Industry Newsroom

IFC and IFC AMC Sell Stake in Ecobank to Arise

Africa-focused financial services investment company Arise has acquired a 14.1 percent stake in pan-African banking group Ecobank Transnational from IFC and IFC Asset Management Company (AMC). IFC AMC first invested in Ecobank through the IFC African, Latin American and Caribbean Fund and IFC Capitalization Fund in 2010. Financial details of the transaction were not disclosed.