Banking
Eveline Tall Daouda Quits Ecobank as Deputy CEO
By Modupe Gbadeyanka
The exit of Ms Eveline Tall Daouda from Ecobank as the Deputy Chief Executive Officer has been announced.
Ms Daouda is proceeding on an early retirement on Tuesday, January 31, 2017 after spending about two decades at the institution.
A statement issued by Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, disclosed that the “stellar professional” banker was leaving the company after two decades.
In the statement signed by the company’s chief spokesman, Mr Richard Uku, Ms Daouda was described by the Group CEO, Mr Ade Ayeyemi, as a “stellar professional who has built a reputation as an outstanding banker and influential leader.”
Mr Adeyemi pointed out that throughout Ms Daouda’s career, she has been “nothing short of the quintessential banker, one whose savvy and experience has helped grow our institution to the pan-African banking leader we are today.”
The bank boss said the retiring banker has “developed, coached and mentored many staff, some of whom now occupy senior leadership positions across the Ecobank Group.”
“She has contributed in no small measure to the development of human capital, actualising a key purpose of Ecobank, which is to build pan-African professionals who are true models to emulate,” he was quoted as saying in the statement.
During her banking career, Ms Daouda received wide recognition as an eminent African professional.
In 2013, Jeune Afrique magazine recognised her as one of the 25 most influential women in business in Africa. In 2014 and 2015, Forbes Africa nominated her as one of the top 100 most influential women in Africa.
The following year, Jeune Afrique again acknowledged her as one of the 50 most influential women on the continent and in 2016, the magazine again identified her as one of the top 50 most influential women on the continent.
As a graduate of English with a diploma in Business Management and Administration, Ms Daouda began her banking career with Citibank, working with that organisation for 17 years before joining Ecobank in 1998.
Since then, she has played a pivotal leadership role in Ecobank’s evolution. She successfully opened Ecobank Mali as deputy managing director in 1998 and in 2000 became its managing director, making her the first female managing director of a banking affiliate in the Ecobank Group.
She then went on to overhaul operations in Ecobank Senegal, which she managed for five years, later becoming regional director for the UEMOA zone and successfully consolidating the bank’s position across the region.
It is to her credit that Ecobank’s West African Economic and Monetary Union (UEMOA) zone affiliates remain on a consolidated base and a number one position throughout the region till today.
As Chief Operating Officer (COO), Ms Daouda managed the expansion of the Ecobank Group from
2010 to 2016.
In 2011, she was also appointed deputy group CEO. Her management of the company’s expansion involved, in part, consolidating acquisitions in some target countries like Zimbabwe and Mozambique and ensuring their successful integration into the Ecobank Group.
She also obtained banking licences and successful openings for Ecobank Equatorial Guinea and Ecobank South Sudan, as well as a representational office in Ethiopia.
By the end of her stewardship as COO in early 2016, the total balance sheet for the 33 Ecobank banking affiliates in Africa that Ms Daouda supervised stood at over $20 billion.
As COO, she successfully managed crises for affiliates during politically turbulent periods in Mali, Côte d’Ivoire, the Democratic Republic of Congo and the Central African Republic.
Her leadership ensured business continuity, maximum protection for Ecobank employees and minimal impact for the bank during these crises.
Ms Daouda, in her last role in the Ecobank Group as deputy CEO and chief regulatory officer, established the function responsible for protecting the Ecobank Group’s franchise and a high level regulatory relationship management.
She brought her vast experience in banking and governance to bear on several Ecobank affiliate boards. She represented ETI as the major shareholder on the boards of the eight countries of UEMOA and Cape Verde from 2005 to 2010 and on the boards of Ecobank Côte d’Ivoire, Kenya, Ghana, Cameroun and Zimbabwe from 2010 to 2016.
In an internal communication to staff, Mr Ade Ayeyemi said, “After a successful career, Eveline is leaving the Ecobank Group to pursue, among other things, her lifetime passion of developing, inspiring and empowering African women. She will apply her vast experience to deepen the advocacy for women entrepreneurs.”
“We owe Eveline an immense debt of gratitude for everything she has given to Ecobank over the years. She has valiantly served this organisation and her continent, and she will always stand out among the amazing professionals who have come through the doors of our institution,” Mr Ayeyemi further said.
By Aduragbemi Omiyale
The Central Bank of Nigeria (CBN) has reaffirmed that the old and new Naira notes will continue to be used for financial transactions in the country beyond December 31, 2024.
There had been rumours that the old and redesigned N200, N500, and N1,000 banknotes would no longer be legal tender from Wednesday, January 1, 2025, because the central bank would phase out the notes in compliance with a Supreme Court judgement of November 29, 2023.
But the apex bank, in a statement signed by its acting Director of Corporate Communications, Mrs Hakama Ali, on Friday, clarified that the apex court’s judgement being cited did not authorise the bank to phase out the banknotes by the end of this year.
According to her, the court allowed the CBN to leave the old and new notes to be used concurrently until it decides to gradually phase out the former.
The central bank’s spokesperson urged members of the public to disregard claims suggesting the old series of these denominations would cease to be valid at the end of this year.
She urged them to continue to accept all Naira notes for daily transactions, encouraging banks to also adopt alternative payment methods such as electronic channels to reduce the pressure on physical cash usage.
“The Central Bank of Nigeria (CBN) has observed the misinformation regarding the validity of the old N1000, N500, and N200 banknotes currently in circulation.
“In line with the bank’s previous clarifications and to offer further assurance, the CBN wishes to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the N1000, N500, and N200 denominations of the Naira indefinitely.
“For the avoidance of doubt, all versions of the naira, including the old and new designs of N1000, N500, and N200 denominations, as well as the commemorative and previous designs of the N100 denomination, remain valid and continue to be legal tender without any deadlines,” the statement noted.
By Adedapo Adesanya
Access Bank Plc, the banking subsidiary of Access Holdings Plc, has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of 100 per cent equity stake in Bidvest Bank Limited.
The deal for the 24-year-old South African lender is due to be completed in the second half of 2025, upon regulatory approval.
This shows Access Bank’s further expansion plans in line with goals set by its late founder, Mr Herbert Wigwe.
The agreement to acquire 100 percent stake in Bidvest Bank reflects Access Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to global markets as it seeks to optimise the benefits of recent acquisitions and accelerate its transition towards a greater focus on efficiencies.
Bidvest Bank, founded in 2000 is a niche and profitable South African financial institution providing a diverse range of services, including corporate and business banking solutions and diverse retail banking products.
As of its year ended June 2024, Bidvest Bank reported total assets equivalent of $665million and audited profit before tax of $20million.
Upon conclusion of this acquisition, Bidvest Bank will be merged with the bank’s existing South African subsidiary to create an enlarged platform to anchor the regional growth strategy for the SADC region.
This is coming just as the bank opened a new branch in Malta as part of efforts to focus on international trade finance after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
The Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
By Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
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