Business

Formerly the managing director of BICEC, Alain Ripert has been promoted to the position of administrator of BICEC and member of the board of CEPAC in charge of the overseas departments. The news of his departure was already circulating at the end of BICEC’s board meeting on March 23, 2018, but there was no clarification on where he would land.

Nonetheless, he will manage BICEC until the end of August 2018. The departing managing director is being replaced by Sylvain Faure, the current president for market development of BPCE international, the entity to which subsidiaries such as BICEC belongs. The appointment of Sylvain Faure occurs while the group is implementing an exit strategy in Africa and according to analysts; the operation with BICEC is the most complicated for the French Group. Let’s note that Alain Ripert achieved his goals to put BICEC on track. Indeed, speaking during the launch of the renovation works at the headquarters in Douala, he saluted the work of his collaborators and team to whom the group realized a turnover of CFA60 billion and a net profit of CFA10 billion in 2017.

This performance offers him a glorious exit following the discovery of a fraud scheme, which is still being investigated, within the group two years ago. The bank has not yet published the whole figure of its operation in 2017 so it is difficult to assess the real extent of the performance that year.

BIC

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Rita Akana

04.Apr.2018

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LOME, Togo, April 3, 2018/ -- The upgraded version of Ecobank’s (www.Ecobank.com) revolutionary mobile app has attracted 3 million new customers in just 6 months, taking the total number of users to 4 million.  

The app builds on the core functionality that saw the original version applauded as a game changer for African banking by using digital technology to combat many of the financial inclusion barriers faced by those on the continent. This includes the dearth of rural branches, affordability of products, high transaction costs and minimum opening balance requirements.

Ade Ayeyemi, Ecobank Group CEO, says Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks. Subsequently, while the app won one million customers in its first year of launch, upgraded features have seen the rate of sign-ups treble in half of the time. So far this year, app usage has been growing at an average 700k new customers per month.  

“Customers can use the app on their mobile to instantly open Ecobank Xpress Account™, which doesn’t have any account fees, paperwork or minimum balance requirements, or to send and receive money across 33 African countries,” he explains. “Therefore, our app not only removes the barriers that have financially excluded so many Africans but offers next generation functionality to help them send money, make withdrawals or pay for goods and services.”

Patrick Akinwuntan, Ecobank’s Group Executive, Consumer Banking, says that Ecobank is committed to providing all Africans with access to financial services, but doing so in a way that conjoins functionality with convenient, accessible and efficient banking channels, such as the rollout of Ecobank Xpress ^™ Point Agents.

“We want to be the digital bank of choice for all Africans,” he said. “Functionality is one thing – giving our customers unrivalled convenience is another. The Ecobank Xpress ^™ Point Agents that can now be found in your local neighbourhood enable you to deposit money into your app-based Ecobank Xpress Account™ and begin to make digital payments on the app using Ecobankpay. You can also withdraw funds in local currency that may have been sent to you from friends or relatives using our innovative instant transfer or Xpress Cash capabilities.”

The Ecobank Mobile App is available for download from the Google Play Store or Apple Store.

Distributed by APO Group on behalf of Ecobank.

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Media Contact:
Mireille Bokpe-Anoumou
Group Communications
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +228 22 21 03 03
 
About Ecobank Transnational Incorporated (‘ETI’ or ‘The Group’)
Incorporated in Lomé, Togo in 1988, Ecobank Transnational Incorporated (‘ETI’) (www.Ecobank.com) is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group employs over 17,000 people in 40 different countries in over 1,200 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Additional information on Ecobank can be found at www.Ecobank.com. 

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Ecobank

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Rita Akana

03.Apr.2018

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Switzerland disburses CFA3.4 billion to promote renewable energy projects in Cameroon. This was revealed on March 14, 2018, during the first meeting of the steering committee in charge of the management of this fund in Yaoundé.

During the meeting presided by the economy minister, Alamine Mey, it was revealed that the projects supported by these funds will be constructed by the rural electrification agency (AER). 

Let’s note that though the potential exists for solar, biomass and wind energy in Cameroon, they represent only 1% of the country’s energy mix.  

BRM

 

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Rita Akana

16.Mar.2018

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 Port autonome de Kribi (PAK) has just launched a call for expression of interest to pre-qualify the companies that are willing to operate the multipurpose terminal of Kribi deepwater port. 

Cameroon’s government thus restarts the process it concluded in August 2015 by choosing the group formed by Necotrans and Kribi Port’s Multi Opérators (KPMO) which is a consortium formed by many local companies.

Indeed, due to financial difficulties, Necotrans was unable to fulfill its commitments in the framework of this concession and in January 2018, the country officially declared that company’s default. 

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Rita Akana

16.Mar.2018

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The Hygiene and Sanitation Company dawned their beach duty equipment such as trucks, Caterpillars and general cleaners today, the 12 of March, 2018 over unpaid arrears. This strike action is aimed at putting pressure to bear on the state of Cameroon, so that these unpaid arrears can be cleared.

The two months of unpaid arrears makes work cumbrous and challenging because it's with money that the cleaning of the city is facilitated. These workers went to the head quarters today as early as 5am. " we do the very challenging and assiduously and our work must be valued" We breath in stinking and smelling odour, which is nauseating throughout the day.

We must not be taken for desperado and garbage. No truck shall leave for work today without salaries paid" declared Nestor, one of the workers of Hysacam. It must be noted that it was a peaceful demonstration on the street leading to the headquarters and they weren't blocked. Besides the two months unpaid arrears, the workers also complained about a very long history of irregular payment of salaries, rents,unpaid family allowances,health insurance and other mutual benefits according to Roger Nchoungou Njoundap, one of the staff delegates.

This strike action was carried out without the notifying the employer. According to the trade unionist, it was just a spontaneous reaction of workers who have gone for months without their salaries. A very urgent staff meeting was called for at 5pm by the Director of the Douala branch office. " The employers aren't happy with the attitude of the workers because the Company is going through a very difficult moment.

We are going to go through the third month without salaries. Nevertheless the staff representatives are going to explain to them the procedure. The employers assessed that the procedure is too slow and too long" Work generally got halted this morning" when there was too much work to be done. The Staff representatives collectively wrote a letter the Branch Manager on the 9th of March, 2018,expressing the difficulties that workers go through.

The Branch manager promised informing the General Manager ( Michel Ngapanoun. The General Manager admitted only owing one month of salary arrears and has refused to comment on the issue of the strike before holding a crisis meeting was held a few hours letter.

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Rita Akana

13.Mar.2018

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Philémon Zo’o Zame, managing director of Cameroon’s telecommunication regulatory agency (ART) took a step further in the agency’s fight against the unlawful operators in the sector.  

Indeed, the managing director has just published another statement informing that the unlicensed operators could incur fines between CFA100 million and CFA500 million.

He reminded those operators that they were allowed a 6-months deadline from May 2, 2017, to submit their license application.

This deadline has passed and in line with the agency’s mission, a team will check the licenses this month.

 Philémon Zo'o Zame also said that he was amazed to notice that despite the various notices from ART, some operators and added-value suppliers still operate in the telecommunication sector without a license.

BIC

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Rita Akana

09.Mar.2018

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