Ecobank Group has signed a Shs123 billion seven year loan facility to improve its infrastructure systems as it seeks to meet customer needs in an increasingly changing banking industry.

The loan was secured from the French development financing arm, Proparco and the Belgian Investment Company for Developing Countries, the Group announced this week.

“The Shs123 billion (about €40.7 million) loan facility will be invested in the development of Ecobank’s systems and technology infrastructure, which serves nine million retail, corporate, public sector and microfinance customers, through 1,180 branches, 1,632 ATMs and 2,744 point of sales,” Ecobank said in a press statement posted on the group’s website.

“The investment demonstrates our on-going commitment to enrich Ecobank’s customer experience through investments in systems, technology and processes,” the bank’s group chief executive officer, Mr Arnold Ekpe said.

Ecobank is a pan-African banking group with a presence in 32 African countries, including Uganda, Kenya and Rwanda.