Ecobank Shareholders Approve Major Governance Reforms

On 13 August 2026, shareholders of Ecobank Transnational Incorporated (ETI) convened an Extraordinary General Meeting where they approved significant governance reforms. The amendments include changing the quorum requirement for general meetings to shareholders representing at least 25 percent of the company’s paid-up share capital, replacing the previous threshold based on 20 shareholders.

This change aims to strengthen decision-making representativeness. Additionally, the maximum size of the board has been reduced from 15 to 12 directors to promote agility and accountability.

The tenure cap for non-executive directors has been removed, although the mandatory retirement age of 70 remains unchanged, ensuring that directors are still subject to election or re-election by shareholders. Furthermore, the quorum for board meetings has been increased from a minimum of three directors to more than half of all serving directors to enhance participation and accountability.

ETI stated that these proposals reflect its commitment to high standards of corporate governance and will be implemented in accordance with applicable laws and regulations.