Given the number of development financial institutions (DFIs) in Africa, can we contextualize evid for our readers?
surely. ECOWAS Bank's Investment Development Bank is a development finance institution for the Economic Community of West African Countries (ECOWAS), consisting of 15 member countries.
Originally created as an ECOWAS fund in 1975, the institution was rebuilt into the EBID Group in 1999 and consolidated in 2006 into a unified entity with two windows.
EBID's central mission is run from its headquarters in Lome, Togo and Togo. This is catalyzing the resilience of the entire subregion, through integration, sustainable development, and resilience, through target finance in both the public and private sectors.
What are the core functions of the bank in this broad regional development context?
Ebid's core mission is to enable comprehensive, sustainable and resilient economic growth through strategic investments. The bank funds infrastructure that supports regional integration, supports public and private sector development, and funds special programs that are consistent with the ECOWAS agenda.
This includes granting loans, issuing guarantees and providing technical assistance for development projects. The bank also mobilizes funding from within and outside the subregion and works in collaboration with international development agencies. Ebid's vision is to emerge as West Africa's premier regional development and investment bank. This is to promote industrialization, job creation and economic well-being.
From a financial strength perspective, how does EBID compare to its global peers?
At the end of 2024, the total balance sheet was $1.97 billion, and EBID is relatively modest compared to global DFI. What sets the US apart, however, is the effective deployment of resources into priority sectors coordinated to meet the unique needs of subregions.
In 2024, the bank paid 24% from $473.8 million on its balance sheet. This is a significant increase from 16.5% the previous year. This performance came alongside the success of capital injections from shareholders of $77.21 million and a $306.4 million mobilization from primarily non-African sources.
EBID has not registered any new bad debts in five years, but has adopted the bank's NPL ratio from 15.36% in 2018 to 4.11% in 2024, except in one case due to challenges in the economy.
Bank loan books rose 13.3% year-on-year, operating profit rose 20.1%, and net profit peaked at $8.55 million. This is recognized by rating agencies Fitch and Moody's.
Ebid is approaching the conclusion of the 2021-2025 strategy, how do you assess progress?
We are tracking ahead of expectations. By mid-2023, two-thirds of the strategy's objectives had been achieved. The loan approval reached its target of 82.35%, with the bank's balance sheet exceeding both 2023 and 2025 targets.
With approval of cumulative projects above UA 1bn, capital mobilization was 132.32% of the medium-term benchmark. The total funding needs are estimated to be UA 1.03bn, and the banks had already mobilized this 66.21%. Additionally, EBID approved capital increased from UA 1bn to UA 2.5 billion, while 45 projects were financed to a total of 1.03bn, 195.91% of the target.
The bank's strategy not only coincides with 12 of the 17 UN SDGs, but also makes the institution more relevant to the stakeholders.
Let's talk about recent approvals. What can I share about the 91st Committee meeting?
In April 2025, the board approved $230 million and XOF10 billion for its strategic regional initiative. These include:
The $50 million credit line to Sterling Bank Nigeria supports small businesses across the sector, including health, education and renewable energy.
The XOF10bn facility to Benin Cashew SA will provide joint cashew nut processing in line with Benin's agriculture transformation agenda.
For the Kano Maradi Railway Line, an important link between Nigeria and Niger, the $180 million facility for the Motor Enzil Nigeria, is expected to create more than 100,000 jobs during construction and 20,000 lasting positions afterwards.
These are in line with SDG 9 (Industry and Infrastructure) and SDG 13 (Climate Action) and will increase the bank's total regional commitment to $4.5 billion.
What is the impact of Ebid's wider sectors than ever before?
As of 2024, EBID paid $2.3 billion directly to small businesses, women entrepreneurs and major industrial projects. This includes:
Infused into $1.06 billion in rural development and agricultural resilience supporting local infrastructure, $114 million was invested in industrial innovation and local manufacturing, $172 million in education and healthcare, and was directed towards small business finance, with a focus on women and youth inclusion.
These interventions will generate over 1 million jobs and change lives across the ECOWAS subregion.
Could you explain the socioeconomic ripple effects of a particular project?
Take your 2024 investment in the Berrier region of Ivory Coast. The bank funded vegetable packaging and storage facilities that are expected to generate 120 direct and 420 indirect jobs, which had a positive impact on 1,000 households.
The initiative will integrate post-harvest processing to address youth unemployment and gender disparities. This is especially important in areas where women make up 49.6% of the population.
In Ivory Coast, youth account for 46% of the population, but face high employment. By providing technical training and rural infrastructure, the project encourages agricultural entrepreneurship and stimulates the local economy.
Innovation appears to be at the heart of Ebid's approach. How do you embed it institutionally?
Innovation cannot be negotiated. In July 2024, the bank became the first DFI to issue green, social and sustainable (GSS) bonds in the WAEMU financial market, raising $119 million. The bank has invested in solar energy, like Sierra Leone's $22.5 million Planet Solar 50MW project, and has committed $175 million to trade finance in 2024 alone, including $50 million.
The bank is poised to work with all key stakeholders to streamline intra-regional trade, reduce transportation costs and become ECOWAS community guarantors to increase competitiveness. In doing so, banks are pioneering a comprehensive, sustainable, and future-looking financing model.
How does evid advance institutional capacity on earth?
Capacity building is built into every project. The bank is part of the initiative to establish a University of Science and Technology in Sierra Leone.
The bank has also built 150 boreholes in Guinea and funded solar-powered water pumps mounted on Ivory Coast. Public sector projects include training of local coordination units and maintenance teams to ensure long-term sustainability.
What does inclusion of non-regional members in Ebid's capital structure mean for banks?
Opening up to non-regional members is a transformational move that strengthens the bank's capital base, brings global best practices, and improves the bank's credit profile at rating agencies, ultimately leading to improved ratings.
The strategy will also strengthen governance, diversify bank funding pools and enhance Ebid's position in global financial markets. The 2024 ECOWAS Investment Forum (EIF) brings together key partners under the theme of unlocking regional possibilities, representing the bank's preparation for global involvement.
What are your top priorities for banks going forward?
As EBID's president and chairman, my top priority is fixed in the GRO strategy (growth, resilience, optimization) to drive sustainable development in West Africa. It drives growth by funding energy, agriculture and infrastructure transformation projects. In terms of resilience, it strengthens internal risk frameworks and external shock preparation.
Finally, when it comes to optimization, we leverage technology and partnerships to maximize impact and ensure that every investment brings measurable progress. Together, these pillars are ev as catalysts for West Africa in the more thriving, integrated, climate zone.
Ebid is more than just a financial user. It is the power of change throughout West Africa. Every investment that a bank makes is a deliberate step towards building resilience, unlocking opportunities and shaping a future rooted in shared prosperity.
By coordinating the most urgent priorities and capital of subregions, from infrastructure and energy to small and medium-sized businesses and social services, banks act as catalysts for sustainable growth and comprehensive development.
The bank's commitment to transforming the ECOWAS community is more than just a slogan. It's a mission in action. With our eyes on, Ebid stands firmly as a beacon of purpose-driven leadership, impact and long-term progress.
