WorldStage– Ecobank Transnational Incorporated (ETI), the leading private pan-African banking group has announced the resolutions from its Extraordinary General Meeting (EGM) on 13 August 2026, where shareholders approved key amendments to the Company’s Articles of Association.
In a notice filed at the Nierian Exchnage by Madibinet Cisse Company Secretary, these amendments followed a periodic review of ETI’s governance framework.
Following the General Meeting resolutions, the following changes were made:
*Enhancing shareholder representation: The General Meeting quorum requirement has been fixed to shareholders representing at least 25% of the paid-up share capital (replacing the 20-shareholder threshold). This change directly connects meeting quorum rules to economic ownership interest, strengthening the representativity of General Meeting outcomes.
*Optimising Board effectiveness: The Board’s maximum size will be reduced from 15 to 12 directors to foster greater agility, focused deliberation, and enhanced individual accountability, while maintaining strong independence and regulatory compliance.
* Preserving experience and shareholder choice: The non-executive director tenure cap will be removed, while retaining the mandatory retirement age of 70. The amendment does not extend any director’s mandate automatically, and directors will continue to stand for election or re-election by shareholders, who will retain full discretion over Board composition. This amendment protects institutional expertise and governance continuity in a complex regulatory landscape while ensuring shareholders retain full authority over director elections.
*Strengthening Board decision-making: The Board meeting quorum was increased from a minimum of three directors to more than half of all serving directors. Raising this threshold guarantees broader board participation, reinforcing collective accountability and the integrity of Board decisions.
These proposals reflect ETI’s ongoing commitment to high standards of corporate governance and will be implemented as and when appropriate and subject to all applicable laws and orders.
