Togo’s Ecobank to open branch in Guinea Bissau

8 November 2006

Bissau, Guinea Bissau, 08 Nov – Guinea Bissau will have another bank this month as Togo’s Ecobank, which has branches in 15 West African countries, plans to open a branch in the country, the director-general of the bank said in Bissau Tuesday.

Anastasie Darboux, who has been in Bissau since October 22, gave no indication of the precise opening date for the new bank.

Darboux said the bank would be set up in the “heart” of Bissau and that help had been sought from the Guinean Chamber of Commerce, Industry and Agriculture to identify the businesspeople and businesses in the country as well as for knowledge of the local market and its potential.

Ecobank was set up was set up by the Federation of Chambers of Commerce of the Economic Community of West African States.

With the opening of Ecobank, Bissau will have four banks in the country, including Banco da África Ocidental (BAO), whose main shareholders are Portugal’s Montepio Geral and Grupo Efisa, Banco de Solidariedade Regional (BRS) and Banco da União (BdU), which were opened this year. (macauhub)