Arise completed the acquisition of a 14% stake in Ecobank Transnational from IFC.

Arise, an investment and development company, completed the acquisition of a 14% stake in Ecobank Transnational, a pan-African banking conglomerate, from International Finance Corporation. Financial terms were not disclosed. “In line with our core business mandate of investing in Africa’s local prosperity we are excited to have acquired c.14.1 % shareholding in Ecobank Transnational Incorporated (ETI). Arise aims to collaborate with local Financial Service Providers (FSPs) in Sub - Saharan Africa to boost economic growth through strengthening the local banking sector. This transaction with ETI will see Arise collaborate with Ecobank to advance financial inclusion on the continent." Deepak Malik, Chief Executive Officer of Arise.