- Ecobank Transnational Inc will challenge a ruling by a commercial court in Ivory Coast that the pan-African bank must pay $15 million in damages to former chief executive Thierry Tanoh, a spokesman said on Monday.
- The court ruled last week that a letter written by Ecobank board member Daniel Matjila last year and published in the media tarnished the image of Tanoh, who was dismissed last March.
- Matjila is chief executive of South Africa’s Public Investment Corporation, which was the largest shareholder in Ecobank until Qatar National Bank bought a stake of more than 23 percent in September.
- The appeal would be to Ivory Coast’s Court of Appeal in Abidjan, said a lawyer for Tanoh. Judgement in a separate case involving Tanoh’s dismissal filed in Togo is expected on Feb. 3, Uku said.
- Source Reuters
