Togo-based Ecobank International - owners of Ecobank Zimbabwe Limited (EZL) - plans to embark on a capital raising exercise and could also be considering mergers and acquisitions in the financial sector. 

This comes as EZL recently increased its branch network in Zimbabwe to 13 as part of efforts to expand its footprint in the country. 

The banking group will, at an extraordinary general meeting to be held next month, seek shareholders' approval to adopt "a new resolution on capital raising" and amend its Articles of Association to include "provision of mergers, acquisitions and disposals" among other recommendations.

Tags: Ecobank, Capital,