CHAPTER 1INTRODUCTION TO THE PLACEMENT COMPANYThis chapter gives an introduction to the organization where the author has made his secondment. In this case, the seizure was made at Ecobank Zimbabwe, which is a subsidiary of Ecobank Transnational Incorporated (ETI). This chapter will examine Ecobank's core values, vision, mission statement as well as a brief description of the entire organization as a whole.1. Organizational Background1.0 Ecobank GroupThe Ecobank Group is a universal banking group founded in the spirit of integration, cooperation and private sector development. The Ecobank Group was created in 1985 in Togo as a bank holding company with the support of ECOWAS. The Group is made up of the parent company Ecobank Transnational Incorporated (ETI) and other subsidiaries located in other African countries. However, in these subsidiaries, the parent company would be the majority shareholder. The bank has agreements with the government of Togo in terms of exchange controls and legal rights. The bank was created to bridge the gap that existed in many West African countries, as most banks were either state-owned or foreign-owned. Ecobank was established as a commercial bank due to the fact that there were virtually no commercial banks in West Africa. Commercial banks are in the business of offering loans (credit lines), current accounts, etc. Ecobank is currently present in 35 African countries, making it one of the banks with a large branch network in Africa. Ecobank also has representative offices in France, London, Dubai, Beijing and Johannesburg. However, Ecobank's main vision is pan-African. Ecobank shares are traded on 3 stock exchanges: Ni Stock Exchange...... middle of paper ......strongly discouraged as they are detrimental to productivity.c) InnovativeEcobank encourages its employees to be creative . Indeed, it is thanks to innovation that the bank can survive in an environment now characterized by fierce competition. Unproductive habits are not encouraged at all. d) EfficientEcobank believes in a culture of hard work and hence employees must be efficient. The goals set must be intelligent and performance must be monitored against deadlines. e) Enterprising Ecobank expects its employees to be innovative. Employees should always be on the lookout for new business opportunities and then strive to explore these opportunities profitably. 1.8 The 3 pillars of Ecobank The number 1 employer of choice. for shareholders.