Ecobank Transnational Inc., which faces allegations of senior management fraud, will hold a board meeting to devise strategy on March 11 in Cameroon, the Lome, Togo-based lender’s biggest shareholder said.
South Africa’s Public Investment Corp. supports the creation of a new board of directors at Ecobank Transnational Inc. that includes Chief Executive Officer Thierry Tanoh, said a person with knowledge of the matter.
Cocoa farmers in Ivory Coast, the world’s largest producer of the beans, will harvest the biggest crop in three years this season partly due to “good” rains during the dry period, according to Ecobank Transnational Inc.
Cocoa rebounded in London as traders weighed slowing deliveries in Ivory Coast, the world’s largest producer, and the possibility of a large mid-crop, the smaller of two annual harvests starting in April. Coffee rose.
Nigeria’s Securities and Exchange Commission told Ecobank Transnational Inc. last month that it should reinstate Laurence do Rego, the former executive director of risk and finance who alleged senior management fraud.