Ecobank plans to close branches and cut jobs as the pan-African lender steps up investments in digital platforms, its chief executive said on Wednesday.
The Pan-African lender's operations in nearly 40 countries across sub-Saharan Africa, including Kenya, are exposed to some economies that have been pressured by the slide in commodity prices and unfavourable currency swings.
Speaking to Reuters on the sidelines of the World Economic Forum for Africa in Durban, chief executive officer Mr Ade Ayeyemi said the bank's plans to expand its mobile platforms would help deliver profits.
This will mean reducing their branch network, using technology to deliver to customers and processing transactions centrally, said Ayeyemi.
The bank believe that this business model can deliver profitability to our shareholders.
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