Ecobank made governance progress - Nedbank

Johannesburg - Pan African lender Ecobank Transnational (ETI) has made progress in resolving governance problems, the CEO of its alliance partner Nedbank Group, said on Tuesday.

"ETI went through some governance challenges, but in the last few months we think they've made enormous progress in resolving those issues," Mike Brown told Reuters in an interview.

Nedbank has a strategic alliance with Ecobank and under a deal with the Togo-based lender has until November to decide if it will take a 20% stake in the bank.