Lagos - Before exercising its right to convert the $285 million loan it gave to Ecobank in 2011 into an equity holding, South African lender, Nedbank, will consider governance issue hovering over the Pan- African bank, reports Business Report.
Mike Brown, Nedbank chief executive, said the bank will take all factors into consideration before deciding on the next line of action in the deal.
Nedbank has until the end of November to convert the loan into an equity holding and then increase its stake to as much as 20 percent in Ecobank..
The deal has still not received regulators’ approval, although that is not seen as a problem.
Read more at Business Report.
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