Synonymous with banking in Ghana, Ecobank is continuing to shape both the industry and the communities it reaches. CEO Abena Osei-Poku talks sustainable growth, integrating new technologies and what success means to her.
A full circle moment saw Abena Osei-Poku return in 2024 as Managing Director to the place where she interned as a student almost three decades earlier.
“I’ve always had an affinity for Ecobank,” she tells The CEO Magazine. “I held it in high esteem already, so it was a very welcoming opportunity. Interning there was one of the reasons I chose to pursue a banking career.”
As Osei-Poku puts it, she “already had skin in the game” when she returned, having worked in the banking sector for her entire career, including at international giant Barclays for nearly 15 years.
“I also had an opportunity to sit as an African on the group executive council to directly work with the group CEO and my peers to transform an organization – I thought it would be a good legacy to leave,” she recalls.
Building a legacy
Ecobank began with the objective of enabling a modern Pan-African bank to thrive at the same time as contributing positively to the economic development and financial integration of the continent. Founded in 1985, it now has branches in 35 Sub-Saharan African countries and is truly synonymous with banking in the region.
“One of our key differentiators is the unique combination we have when it comes to scale, experience and innovation,” Osei-Poku explains.
“Outside of our Pan-African presence, we are a strong franchise. In over 13 of our markets, we are number one; in over 25, we are in the top five.
“We also have representative offices in China, London and Paris, so we are able to harness the local knowledge in our offerings at the same time as bringing that regional connectivity that very few can match.”
“We are investing very heavily in technology to enhance customer experience and efficiency.”
Over the next year, Ecobank is investing in human capital as a top priority.
“It’s actually not negotiable now, so that is a key commitment – making sure we identify talent, develop it and provide the right sort of training, coaching and mentoring,” Osei-Poku says.
“Because ultimately, we have to build a highly skilled and motivated workforce that is also future fit.”
Investing in digital
Increasing and improving digital strength has been an ongoing process for Ecobank, guaranteeing it can compete on the global stage and provide customers with the most advanced banking solutions.
“Over the past decade or so, it has been necessary that we keep investing because customers are looking for speed, accuracy, safety and everything in between – privacy, flexibility, convenience, but also omnipresence,” Osei-Poku explains.
“For us, this means being able to provide the mobile and online channels and platforms, giving them data-driven solutions and very extensive agent networks – an easier, faster and simpler way of setting up.”
Having rolled out customer experience training for the whole team, as well as transparency on how AI can be best utilized, Osei-Poku says Ecobank is determining how to prepare for a more technology-driven version of the business.
“We are investing very heavily in technology to enhance customer experience and efficiency,” she confirms. “However, we are also leveraging big time on data. It’s one of those things that we recognize we need to improve on.
“It’s a huge opportunity leveraging the data and AI to deliver more customized, personalized services and at the same time introducing innovative payment solutions that will align with the way our clients do business today.”
“It’s about how we provide support programs, upskill entrepreneurs, provide mentorship programs and expand their networks.”
With customers spanning both the formal and informal sectors, as a systemically crucial bank for the region, Ecobank and the wider Ecobank Transnational Incorporated Group need to look at how they can serve different customer groups and their varying needs simultaneously.
“It’s not just helping them grow their own financial services, it’s also about how we provide support programs, upskill entrepreneurs, provide mentorship programs and expand their networks, especially when you look at small and medium-sized enterprises,” Osei-Poku points out.
“Those are things that we do sustainably because for me it’s not just about the financial performance – it’s using service as a mantra and ensuring that we are very clear on what our core values are so that together we shape our culture and guide our decisions, which will continually, consistently help our customers deliver more sustainable value.”
Redefining success
For Osei-Poku, the measurement of success comes down to achieving more than she set out to.
“My own personal principles are around giving other people’s lives meaning,” she reveals. “So beyond the financial performance, success for me is leaving this place better than I found it, making sure that internally I get colleagues ready for bigger and better opportunities in their working future.
“For my customers and clients, I support them to be able to grow their businesses, expand and become better than when I met them. Likewise, for my shareholders, making sure that every year is better than the previous year.”
Osei-Poku admits that she looked at success differently when she first became a CEO, but now she’s approaching it with her own lens. While growth is always a goal for Ecobank, she is determined to ensure that it is only ever done in a sustainable manner.
“Success is that our growth transformation and return strategy make us a sustainable number one player,” she adds. “We are already a systemically important bank, but we have to get to a place where we are the undisputed champions.
“Success is also about making sure we provide not just corporate social responsibility in the traditional sense of the word, but that we are also true citizens – we support the communities where we work.”
“We say service is a mantra and the customers are at the center of all we do.”
Because of Ecobank’s immense footprint and wide client base, it is able to offer customers an enhanced experience.
“We are in the fabric of the continent and are fully aware of that, making sure that we take full advantage of it by not only giving our best but also working with all the stakeholders, the government, the regulator, the communities, our customers, colleagues and, of course, the governing bodies that look after us,” Osei-Poku says.
“We say service is a mantra and the customers are at the center of all we do, which may sound like a cliche, but it’s something that we are very clear about.”
