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World: Arise acquires 14.1% stake in transnational Ecobank incorporated

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World: Arise acquires 14.1% stake in transnational Ecobank incorporated

Arise BV has become a leading shareholder of Ecobank Transnational Incorporated (ETI). This private investor in financial institutions in sub-Saharan Africa has acquired approximately 14.1% of shares sold to it by the International Finance Corporation (IFC) and funds managed by IFC Asset Management Company, IFC Asset Management Company ( AMC).

« We welcome Arise as a shareholder of ETI and believe that there is strong synergy in our strategic objectives, especially to ensure and strengthen the financial inclusion and development potential of our continent, » said Ade Ayeyemi, the general manager of ETI.

According to an official statement to Zoom Eco, the Ecobank Group took this opportunity to express its deep gratitude to IFC for its commitment and support over the past decade. This solid collaboration, insisted Ade Ayeyemi, allowed them to make significant progress. He reiterated their willingness to continue working with IFC in other areas in the future.

In fact, JP Morgan Securities PLC acted as sole investment agent and sole financial advisor to IFC and funds managed by AMC as part of this transaction which allowed Arise to acquire IFC’s interests in ETI. And this, as part of the regular rotation of its asset portfolio.

« IFC continues its strong commitment to the development of the Sub-Saharan Africa region and continues to invest in other projects in these countries, » said IFC Senior Advisor Paolo Martelli.

He added that this sister organization of the World Bank has invested in Ecobank for more than ten years to improve access to credit for entrepreneurs and small and medium-sized enterprises in sub-Saharan African countries (including member countries International Development Association-IDA) in which the bank operates, achieving the development impact sought when the investment was made.

For his part, Deepak Malik, CEO of Arise expressed his satisfaction after the acquisition of this stake of about 14.1% in ETI.

« Arise aims to work with local financial service providers (FSFs) in sub-Saharan Africa to boost economic growth through strengthening the local banking sector. This transaction with ETI will enable Arise to work with Ecobank to advance financial inclusion across the continent, « he said.

Arise is one of the leading private investors in financial institutions in sub-Saharan Africa with a total balance sheet greater than US $ 740 million. The company aims to drive growth in all sub-sectors of financial services in sub-Saharan Africa.

By partnering with viable financial service providers (PSFs) and helping them to become leaders in their respective markets, Arise aims to contribute to Africa’s economic growth potential while ensuring sustainable returns. long-term investment.

As a reminder, Ecobank Transnational Incorporated (ETI) was created in Lome, Togo, in 1988. It is the parent company of the Ecobank Group, the largest independent pan-African regional banking group. It is present in 36 African countries including South Africa, DR Congo, Rwanda, and Zambia. And, it employs 15,500 people in 40 different countries.

Ecobank offers retail banking, wholesale banking, investment and asset management services. It also offers electronic banking services to international organizations and governments through over 800 branches and offices, 2731 ATMs, Internet banking and mobile banking services.

Eric TSHIKUMA

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Africa

DRC : Tenders for tailings storage works at MMG Kinsevere

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PUBLIC NOTICE – MMG Kinsevere SARL hereby announces to the public within the Democratic Republic of Congo that the following tenders are currently being prepared and finalised for future works to be undertaken at the Kinsevere Mine site.

 

 

 

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DRC: Launch of Tender for Laboratory Services At MMG Kinsevere

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MMG Kinsevere SARL hereby announces to the public the launch of the tender for Laboratory Services for Mining and exploration.

All intertested and qualifying entities need to submit their respective company files as per the below list of requirements detailing their expression of interest for the above tender by no later than 10 March 2021.

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DRC: Launch of tender for exploration drilling at MMG Kinsevere

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PUBLIC NOTICE – MMG Kinsevere SARL hereby announces to the public within the Democratic Republic of Congo the launch of the of tender for Exploration Drilling

All interested and qualifying entities need to submit their respective company files as per the below list of requirements detailing their expression of interest for the above tender by no later than 03rd of March 2021.

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