Business Ecobank to Close More Branches, Sack More Workers

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LequteMan

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Ecobank has announced plan to close down more branches and sack more workers as it steps up investments in digital platforms.

The pan African bank's Chief Executive Officer Ade Ayeyemi said the bank’s plans to expand its mobile platforms would help deliver profits.

“This means reducing our branch network, using technology to deliver to customers and processing transactions centrally,” said Ayeyemi.

“We believe that this business model can deliver profitability to our shareholders.”

He added that the expansion into online platforms would lead to lay-offs. Ecobank at the moment employs more than 17,000 people.

Recently the bank shut down 24 of its branches in Nigeria leading to the loss of many jobs.
 

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