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Business News of Saturday, 27 April 2019

Source: Myjoyonline.com

Ghanaian MD of Ecobank Kenya retires after 29 years of service

The Ghanaian Managing Director of Ecobank Kenya, Samuel Ashitey Adjei, is to retire after 29 years of service to the bank.

Mr Ashitey Adjei who doubles as the Regional Executive of Central, Eastern and Southern Africa (CESA), will formally retire on April 29.

The outgoing MD, who is also on the Ecobank Group Management Committee, recently played a leading role in driving Ecobank Group’s partnership agreement with the International Federation of Red Cross and Red Crescent Societies.

His previous roles at Ecobank have included MD of Ecobank Ghana, Deputy MD of Ecobank Ghana and Executive Director and Head of Corporate Banking and Treasury.

Ade Ayeyemi, Group CEO of Ecobank said, “Sam’s impactful performance, dedication and commitment have been apparent to all during his almost three decades with Ecobank. He has been instrumental in building Ecobank Ghana into the most profitable affiliate in the Group and the leading bank in Ghana during his ten years as its Managing Director.

“Also, the financial condition of CESA has improved markedly under his stewardship in recent years, with its profit before tax increasing by 79% to US$111 million in 2018. On behalf of the Ecobank Group and Board I want to wholeheartedly thank him and wish him all the best in his retirement.”

Mr Ashitey Adjei said, “It has been a real honour to have played a role in the development and growth of Ecobank in its journey to bring economic development and integration to middle Africa. I have long regarded Ecobank’s digital strategy as a masterstroke driving transformational change for millions of Africans by seamlessly serving them with innovative and constantly evolving products and services.

“Even though I am retiring, I will always follow Ecobank’s progress with interest and I have every confidence that it will continue to reach new heights as it drives beneficial change across Africa.”

He will be succeeded by Cheick Travaly, who is currently the Regional Chief Operating Officer for CESA.

Cheick Travaly has 28 years of professional experience, the last 14 of which have been spent as a Banking Executive serving six different countries. He holds two Master’s degrees, one in Business Administration and another in Economics.

Mr. Travaly began his career in the mining sector in Guinea, before making a permanent move into the banking industry. One of his early roles was as a Local Corporate Manager for Citibank Senegal, however, he has been employed at Ecobank since 2015 when he took the role of Corporate Bank Head at Ecobank Senegal.