Ecobank and Old Mutual enter into strategic agreement

Ecobank and Old Mutual have announced a strategic agreement to strengthen the two institutions' relationship.
Ecobank and Old Mutual have announced a strategic agreement to strengthen the two institutions' relationship. | File photo

Ecobank Transnational Incorporated (ETI) and Mold Mutual Emerging Markets (OMEM) have announced that enhanced strategic agreement, which was designed and developed to strengthen the relationship between the Pan-African Bank and the corporation.

OMEM, a part of the Old Mutual Group, is engaged in a bancassurance partnership with the Ecobank Group, a subsidiary of ETI. The newly formed agreement will help nurture a strategic alliance by providing continuous insurance services to Ecobank clients. The insurance services will span across certain countries where the two companies are operating. The clients will benefit from a wide variety of services, including life insurance, savings and short-term insurance solutions.

Ade Ayeyemi, CEO of the Ecobank Group, has said the integrated model plans will include access to Old Mutual solutions for banking operations provided by Ecobank across selected countries. He also said the agreement between two Pan-African companies is a productive and valued partnership, which can provide complete financial services solutions to customers.

The CEO of OMEM, Ralph Mupita, said it is in the interest of both institutions that the newly formed alliance is nurtured and allowed to grow.

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