Ecobank to boost competitiveness in Kenya’s investment banking

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Kenya’s Capital Markets Authority (CMA) has upped the game investment banking in the country by issuing an investment banking license Ecobank capital, the investment banking arm Ecobank Group, which made its first foray into the country last year.
Ecobank Capital joined the growing list financial institutions in Kenya. These investment firms are said be complimenting their affiliate commercial banking activities by providing investment in critical developmental sectors.
According Ecobank Managing Director, Mr. Moyo Kamgaing, the bank has arranged over $4 billion in financing for and public sector clients across 12 African countries in the past two years.
The pan-African banking group requested for an investment banking license from the CMA in November 2013 following its acquisition Iroko Securities Kenya Limited in July 2013.
With the new investment license, EBI Investment Corporation Kenya Limited – the parent company of Ecobank capital – will structured trade and commodity finance, project finance, corporate advisory and also target East Africa’s & gas, and other economic sectors.
The Group intends to boost its efficiency in all business areas, having established its pan-African footprint across 35 countries in Africa with international offices in Paris, , Dubai and Beijing.  (VENTURES AFRICA)