Jeremy Awori’s appointment as Group CEO of Ecobank in March 2023 marks a new chapter for Africa’s premier pan-African bank. With over 25 years of distinguished experience in the banking sector, Awori brings a wealth of expertise and a bold vision to transform Ecobank into a powerhouse for financial and economic integration across Africa.
Awori’s career has been defined by a series of high-impact leadership roles. He spent nearly a decade as Managing Director and CEO of Absa Bank Kenya, steering the bank through strategic growth and innovation. Before that, he held senior positions at Standard Chartered, operating across the Middle East, South Asia, and Africa. His vast international experience has equipped him with a unique global outlook and an unmatched understanding of the African banking landscape.
Beyond his corporate roles, Awori has made significant contributions to Kenya’s banking and private sectors. He is the former Chairman of the Kenya Bankers Association and a former board member of the Kenya Private Sector Alliance (KEPSA). His leadership extends to global initiatives as a board member of the United Nations Global Compact Network Kenya, highlighting his commitment to sustainable business practices.
At the core of Awori’s leadership at Ecobank is the mission to facilitate economic growth across Africa. Under his guidance, Ecobank is leveraging its presence in 35 countries to support the African Continental Free Trade Area (AfCFTA). The bank has positioned itself as a key player in driving intra-African trade by providing real-time payments and financial support for SMEs, the backbone of Africa’s economy.
Awori’s vision is clear: to make Ecobank a one-stop shop for all economic operators, small businesses, and large corporations. By offering competitive solutions to SMEs and enhancing financial inclusion, Ecobank is empowering businesses across Africa to thrive and expand their reach.
Awori’s strategy for Ecobank revolves around diversifying its services and modernizing its approach to banking. The bank is evolving from a primarily corporate-focused institution into a universal bank that also excels in retail banking. His leadership aims to bridge the gap between Africa and the rest of the world through a platform that supports import-export operations, investments, and intra-African trade.
Despite a challenging economic environment in 2023, Ecobank’s financial performance has been robust. The bank generated a return on shareholders’ equity of 24.9%, with profit before tax reaching $581 million. Net revenue also crossed the $2 billion mark for the first time since 2015, reflecting the success of the bank’s five-year Growth, Transformation, and Returns (GTR) strategy.
Awori’s emphasis on revenue diversification and low-cost deposit mobilization is yielding tangible results. Under his leadership, Ecobank’s consumer and commercial banking divisions have increased their share of the group’s revenues, while disciplined cost management has paved the way for continued investments in marketing, technology, and sales capabilities.
Awori’s leadership goes beyond financial growth; he is a passionate advocate for gender equality and economic empowerment. He has been instrumental in driving the gender agenda in business and ensuring that Ecobank’s services reach the underserved populations across the continent.
During the COVID-19 pandemic, Awori demonstrated his commitment to social responsibility by serving as a board member and lead fundraiser for Kenya’s Emergency COVID-19 Fund. His efforts in mobilizing private sector resources to combat the pandemic were a testament to his leadership during crises.
Looking ahead, Awori sees Ecobank as a key player in Africa’s economic future. The bank’s digital infrastructure, combined with its commitment to supporting SMEs and promoting intra-African trade, positions it as a driving force in the continent’s financial integration.
As Ecobank continues to expand its reach, Awori’s leadership will focus on empowering customers and delivering innovative solutions that address Africa’s unique challenges. The bank’s involvement in platforms like Afreximbank’s Pan-African Payment and Settlement System (PAPPS) demonstrates its commitment to making cross-border transactions faster, more affordable, and accessible to all.
