Ecobank Seeks $250m Capital Raise via Convertible Notes

Ecobank Transnational Incorporated (ETI) has initiated a private placement offering to raise up to $250 million in Additional Tier 1 capital through contingent convertible notes, aimed at strengthening its financial base and supporting growth across Africa.

The bank disclosed that the capital raise was approved by shareholders during its Extraordinary General Meeting in Lomé, Togo, and the offer was officially launched on July 9, 2025, with a 10-day subscription window.

According to a regulatory filing on the Nigerian Exchange, the transaction is intended to enhance Ecobank’s capital adequacy, improve resilience, and support its long-term expansion plans across its pan-African footprint. Renaissance Capital Africa has been appointed as transaction adviser.

Company Secretary Madibinet Cisse said the planned capital raise is a “critical step” in fortifying the bank’s financial foundation to meet evolving demands and regulatory expectations.

This new fundraising effort follows Ecobank’s recent Eurobond tap of $125 million, which increased the total size of its 2029 notes to $525 million.