Ecobank Shareholders Laud Strong Company Performance

Ecobank main branch on Parliamentary Avenue

President Omar Al-Bashir‘s plane has been stopped from leaving South Africa, unhealthy raising fears the Sudan dictator could be handed over to the International Criminal Court (ICC).

Judge Fabricius of the North Gauteng High Court in Pretoria on Sunday issued an interim court order grounding the plane until an application seeking his arrest is heard and determined.

The move is likely to put Pretoria in a diplomatic dilemma.

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The ICC this week asked South Africa to arrest Bashir who is wanted for five counts of crimes against humanity; war crimes; murder; extermination; torture; rape; and genocide.

“In light of information regarding a possible travel to South Africa of Mr. Omar Hassan Ahmad Al-Bashir, symptoms President of Republic of Sudan, to participate in the 25th Summit of the African Union, the President of the Assembly of States to the Rome Statute of the International Criminal Court, H.E. Mr. Sidiki Kaba, recalls that two arrest warrants issued by the Court against Mr. Al-Bashir remain outstanding,” said ICC in a press statement this weekend.

“The President of the Assembly expresses his deep concern about the negative consequences for the Court in case of non-execution of the warrants by States Parties and, in this regard, urges them to respect their obligations to cooperate with the Court,” it added.

“To this end, he calls on South Africa, which has always contributed to the strengthening of the Court, to spare no effort in ensuring the execution of the arrest warrants if the information received is confirmed.”

However, it should be recalled that in 2014, African Union adopted the Protocol which provides that, “No charges shall be commenced or continued before the Court against any serving African Union Head of State or Government, or anybody acting or entitled to act in such capacity, or other senior state officials based on their functions, during their tenure of office.”

This could provide South Africa grounds to reject the handing over of Bashir to ICC.

The AU adopted this immunity provision in the context of ongoing tensions between African States and the International Criminal Court, which has been accused of singling out African leaders for prosecution.

The perception that the ICC is disproportionately focusing on situations in Africa has prompted African States to threaten to withdraw from its jurisdiction.

In October 2013, the AU held an Extraordinary Summit on the ICC to discuss the ICC’s treatment of African cases. The Assembly decided that no sitting head of state should ever appear before an international court.

Despite these calls to withdraw from the jurisdiction of the ICC, more African States are party to the Rome Statute than in any other region.

Out of the 122 States Parties to the Rome Statute, 34 are African, 27 are Latin American and Caribbean, 25 are Western European and other States, 18 are Asia-Pacific States, and 18 are Eastern European.
Ecobank’s cost income ratio has improved from 65.4 percent to 70.1 percent.

This was announced during the recently concluded 27th Annual General Meeting of Ecobank that were held in Dar es Salaam, viagra Tanzania on 19th June 2015.

Ecobank Transnational Incorporated (“Ecobank”) is a parent company of the Ecobank Group, more about the leading pan-African bank and it has its operations in Uganda as well as in 36 other countries across the continent.

According to a press statement from ECOBANK, stomach The latter had US$24.2 billion in total assets and US$2.7 billion in total equity at the end of 2014

During the meeting, Shareholders approved the company’s accounts for 2014 and the appropriation of profit of USD 5.82 million for the year. A sum of USD 0.87 million was transferred to special reserves and USD4.85 million to retained earnings.

“Our accounts for FY 2014 have shown a resurgent Ecobank, which enjoys the confidence of all its stakeholders, shareholders, customers and staff. We can expect similar positive performance for 2015,” Ecobank Group Chairman Emmanuel Ikazoboh said

Ecobank Group CEO Albert Essien who will be resigning from office after 25 years of excellent service said, “Our diversified pan-African business model continues to serve us well, with encouraging underlying performance in our line of businesses and geographic areas of coverage.”

Mr Ade Ayeyemi, has been appointed to replace Mr Essien and will assume office on the 1st of September, 2015

According to Emmanuel Ikazoboh,  the company’s accounts for FY 2014 have shown a resurgent Ecobank, which enjoys the confidence of all its stakeholders, shareholders, customers and staff. “We can expect similar positive performance for 2015,” he added

The meeting also approved the issue of bonus shares, out of retained earnings, of one ordinary share for every fifteen ordinary shares held on the closure of the company’s share register, in accordance with the rules of the stock exchanges on which Ecobank’s shares are listed.

The new shares issued will rank equally with existing ordinary shares of the company. The meeting authorized the board of directors to determine the modalities for the issue as it deems appropriate.

Furthermore Mr Bashir Ifo, a director representing the ECOWAS Bank for Investment and Development who completed his term of office, was reappointed for another three-year term.

Shareholders also ratified the co-option of Dolika Banda, Graham Dempster and Sheila Mmbijjewe as directors for a term of three years respectively as well as Alain Francis Nkontchou for director on the board for a three-year term.



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