Ecobank Transnational Incorporated (ETI) has approved a number of changes to its corporate governance structure following an Extraordinary General Meeting held on August 13, 2026.

The changes, which were approved by shareholders, amend parts of the company’s Articles of Association and follow a periodic review of ETI’s governance framework.

One of the major changes affects the quorum required for General Meetings.

Under the new arrangement, shareholders representing at least 25% of ETI’s paid-up share capital must be represented for a General Meeting to meet its quorum requirement. This replaces the previous rule that required the presence of at least 20 shareholders.

ETI said the change is intended to link meeting participation more closely to shareholders’ actual economic ownership in the company.

The banking group is also reducing the maximum size of its Board of Directors from 15 members to 12.

According to ETI, the smaller Board is expected to support more focused discussions, improve agility and strengthen individual accountability, while maintaining the required level of independence and regulatory compliance.

Another significant amendment is the removal of the tenure cap for non-executive directors.

However, the mandatory retirement age of 70 will remain in place.

ETI explained that removing the tenure cap does not automatically extend the mandate of any director. Non-executive directors will still have to go through the normal election or re-election process, giving shareholders the final say on who remains on the Board.

The company said the change is designed to preserve institutional experience and continuity while maintaining shareholder control over Board appointments.

ETI has also tightened the quorum requirement for Board meetings.

Previously, a minimum of three directors was enough to form a quorum. Under the new rules, more than half of all serving directors must be present before a Board meeting can proceed.

The company said the higher threshold should ensure broader participation in Board decisions and strengthen collective accountability.

ETI said the approved amendments reflect its commitment to maintaining high standards of corporate governance.

The changes will be implemented where appropriate and will remain subject to applicable laws and regulatory requirements.