Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms - Business - Nairaland
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| Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms by themomentng: 5:41pm On May 03, 2017 |
Ecobank plans to close branches and cut jobs as the Pan-African lender steps up investments in digital platforms, its chief executive said on Wednesday. Speaking to Reuters on the sidelines of the World Economic Forum for Africa in Durban, Chief Executive Officer Ade Ayeyemi said the bank’s plans to expand its mobile platforms would help deliver profits. “This means reducing our branch network, using technology to deliver to customers and processing transactions centrally,” said Mr. Ayeyemi. “We believe that this business model can deliver profitability to our shareholders.” Mr. Ayeyemi, a former Citigroup executive in Africa, who took over at Ecobank in 2015, said the expansion into online platforms would lead to lay-offs. The bank employs more than 17,000 people. He also said a recovery in oil prices in 2017, which would result in higher import revenues for African economies dependent on crude sales, was a positive policy for the bank. Ecobank’s operations in nearly 40 countries across sub-Saharan Africa are exposed to some economies that have been pressured by the slide in commodity prices and unfavourable currency swings.
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| Re: Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms by Afonjashapmouth: 5:41pm On May 03, 2017 |
I wont stop pitching entrepreneurship, dont be.too comfortable working for someone or a body, create a fall back plan. Smh |
| Re: Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms by obamabinladen(m): 5:50pm On May 03, 2017 |
Afonjashapmouth: I am my own boss, and the thing dey sweet die. I can't imagine myself bn caged by my fellow man in the name of working for him. |
| Re: Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms by Afonjashapmouth: 5:56pm On May 03, 2017 |
obamabinladen: As in nothing in this world compared to that... You will have to.go through some phases of hardship but at the end of the tunnel with the right business you will create a long live legacy. 1 Like |
| Re: Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms by obamabinladen(m): 6:03pm On May 03, 2017 |
Afonjashapmouth: My advice to every man is to think outside the box. Don't waste your talent and time building another man's business and wealth. I took that risk out of nothing but today God has proved his POWER. What supposed to be my salary is what I am getting in a day even more. 1 Like |
| Re: Ecobank To Shut Branches, Lay-offs Staff As It Expands Digital Platforms by Nobody: 6:41pm On May 03, 2017 |
save for the rainy day |
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