ECOBANK is believed to be on the verge of buying a significant stake in Interfin which is valued at US$50 million. According to information to hand a team from Eco-bank a pan-African banking group with a presence in more African countries than any other bank is currently in the country conducting due diligence before finalizing on the deal.Although no official comment could be obtained from both Interfin and Eco-Bank market sources said the deal would be sealed by September.
Eco-Bank which has its roots in Togo is the leading independent regional banking group in West and Central Africa, serving wholesale and retail customers.
The bank with deep roots in the Economic Community of West African States (ECOWAS) region has positioned itself as an African bank for Africans by Africans. It has over 600 branches in 25 countries and Zimbabwe could becomes the 26th country where the bank has set foot.
Interfin Merchant Bank started trading in January 2000. Its strategic intent is to build a truly Zimbabwean world class financial institution, supported by strong international partners. Since its establishment, Interfin Merchant Bank has experienced phenomenal growth and has managed to position itself as a strong brand that represents innovative and superior quality service delivery.