Ecobank Malawi appoints Asiedu as acting MD

Ecobank Malawi, a subsidiary of Ecobank Transnational Incorporated (ETI), has appointed Charles Asiedu as the bank’s acting managing director (MD) with immediate effect subject to regulatory approvals by the Reserve Bank of Malawi (RBM).

The bank’s board chairperson Masauko Msungama said, in a statement, the appointment is pending the substantive filling of the vacancy created by the departure of Olufemi Salu, who has been recalled to the Ecobank Group head office in Lome, Togo.

“The Board would like to express its gratitude to Mr. Salu for the invaluable contribution he has made to the operations of the bank in Malawi during his incumbency as managing director in the last four years and wishes him further success in his new responsibilities within the Ecobank Group,” reads the statement in part.

Asiedu, a Ghanaian national, has been with the Ecobank Group for the past 13 years and came to Malawi in April 2012 as an executive director responsible for corporate banking.

The board is assuring the bank’s customers and all relevant stakeholders that the acting MD will be given full support to continue implementing the bank’s strategies to improve the service standard in line with the policies of the Ecobank.

“All stakeholders should expect an acceleration of growth of the Bank in Malawi as it repositions itself as a truly leading African brand,” says the statement.

Incorporated in Togo, ETI is the parent company of the pan-African banking group and is currently present in 33 African countries.