Expected Development Impact
- Support jobs in low‑income countries: this transaction supports a strong pan-African franchise with a presence in 18 low-income countries (“LICs“) in SSA. Additionally, at least 50% of the loan proceeds will be used in LICs.
- Providing digital solutions: ETI is increasing the number and reach of its digital products, including e-commerce solutions, digital payments and lending, and mobile apps. This will help the Bank to reach customers that have traditionally been underserved by financial institutions. Its flagship products such as EcobankPay, a scan and pay service that allows customers to conveniently make payments using a merchant’s unique QR Code and OmniLite an online payment platform specifically designed to meet the needs of SMEs are available at no upfront or service costs. ETI is also collaborating with fintech companies to continue developing value-added products and services for its clients, such as timely digital lending solutions.
- Expanding regional trade in Africa: with a broad presence in 35 countries across SSA, ETI is well positioned to help businesses expand across the continent with the coming of the African Continental Free Trade Area.