Ecobank and Old Mutual announce enhanced strategic agreement

Ecobank and Old Mutual have announced an enhanced strategic agreement that will strengthen existing ties between the leading pan-African bank and the insurance and asset management giant.

Old Mutual Emerging Markets currently has a bank assurance partnership with the Ecobank Group. This latest agreement will grow the existing strategic alliance by offering seamless insurance services to Ecobank clients across selected countries where the two groups have operations, a statement released by the two companies said.

Clients will also benefit mutually though access to a range of financial services that include life insurance, savings and short-term insurance solutions across a greater network on the African continent.

The plans for the integrated model include providing access to Old Mutual solutions for Ecobank’s banking operations across selected countries.

“This is a productive and valued partnership between two pan-African institutions to provide complete financial services solutions to our customers,” Ecobank Group CEO Ade Ayeyemi said.

“It is in our mutual interest to ensure that this alliance grows from strength to strength, as we now look to complement Ecobank’s range of banking services to its customers with Old Mutual’s trusted financial products across the Ecobank network on the continent,” Ralph Mupita, CEO of Old Mutual Emerging Markets added.

IGD Member GroupEcobank and OldMutual announced a new strategic agreement. Learn more https://t.co/lykVGbbiUC via allafrica

— Initiative4GlobalDev (IGDleaders) May 20, 2016

The agreement was signed by both company chief executives at the Ecobank Group’s Lome head office on Friday, and is expected to go into immediate effect.

AGENCY