Arise B.V, a leading equity investor in Africa, has made an Additional Tier 1 (AT1) investment of about $75 million in Ecobank Transnational Incorporated (ETI), the Togo-based parent company of Ecobank Group.
A statement from ETI reveals that the AT1 instrument is the first to be issued by Ecobank, adding that Arise’s investment is Basel III-compliant.
Basel III is an international regulatory accord rolled out by the Basel Committee, which introduced a set of reforms intended to minimise risk and promote stability in the international financial system. Developed in response to the 2007-2009 financial crisis, it requires banks to maintain proper debt ratios and keep certain levels of reserve capital on hand. Continue reading