Ecobank Transnational Incorporated has announced the opening of its South Sudan banking affiliate, making it the 34th on the African continent.
According to a statement from the bank on Monday, the development offers the opportunity to support the youngest African state in addressing the challenges in regards to its development.
The bank said its new office South Sudan had effectively started operations July 10, offering the suite of products and services of the Group to individuals, SMEs, multinationals and institutions.
Thee Group Chief Executive, Thierry Tanoh, said, “We are very excited to have obtained the authorization of South Sudanese authorities to operate in this country which holds a huge potential for financial intermediation. Our presence in four of its six bordering countries, namely: Kenya, Uganda, the Democratic Republic of Congo and the Central African Republic, is a unique advantage to contribute to the development and integration of South Sudan young republic.
Incorporated in Lomé, Togo, Ecobank Transnational Incorporated is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 34 African countries.