Ecobank Transnational Incorporated (ETI), the parent company of the leading pan-African financial institution, has been selected as a private sector ‘partner of choice’ by the Global Partnership for Education (‘GPE’) in its mission to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.
The Presidents of Senegal and France are co-hosting GPE’s 2018 Financing Conference, aimed at replenishing its financial resources, which commences in Dakar today. GPE is seeking to raise US$3.1 billion from donors to support the education of children in developing countries over the next three years. Its goal is to enable governments to increase their education expenditure to 20% of their overall budget. GPE is currently active in 31 of the 36 countries that make up Ecobank’s pan-African footprint.
Commenting on Ecobank’s involvement, Serge Ackre, Managing Director of Ecobank Senegal, said: “Senegal is achieving significant economic progress thanks to investing 24% of its budget in education, setting up a countrywide programme of state-funded nurseries and providing free universal access to schooling. By co-hosting GPE’s financing conference, Senegal is asserting its rightful position as an educational blueprint for other African states to follow.”
Ade Ayeyemi, Ecobank’s Group CEO, concluded: “Ecobank is proud to be the first banking group to join forces with GPE to advance educational outcomes across Africa. GPE is seeking to leverage our experience of working with African governments, DFIs and global technology leaders to develop digital solutions that will facilitate more targeted investment in Africa’s education systems.
“We all need to unite to help shape Africa’s future by equipping our children with the skills for success in the digital world. Only together can we force the pace of change necessary.