Optimization of money transfer through western Union and evaluation of internal communication at Ecobank

Bc. Koboyo Dolike, BSc

Master's thesis

Abstract:

Ecobank or Ecobank Transnational Incorporated (ETI) is a bank founded in Togo in 1985 and is present in 36 countries in West, Central and Eastern Africa. It has 20,331 employees and 11 million customers. Qatar National Bank and Nedbank are shareholders of Ecobank.Ecobank is listed on the stock exchanges of Abidjan, Lagos and Accra. It is the second largest bank in Africa, behind the South African bank Standard Bank.In 1985, Ecobank was founded in Togo. In 1989, Ecobank established itself in Ivory Coast and Nigeria and in 1990 in Benin and Ghana.In 1995, Ecobank signed its first agreements with the Western Union group. In 1997, Ecobank established itself in Burkina Faso, then in 1998 in Mali. In 1999, it moved to Guinea, Liberia, Niger and Senegal.Ecobank is organized around three main poles: Bank of the Company Domestic Banking Banking division (Investment banking)Western Union (WU) is a US-based payment company specializing in international money transfers for individuals and businesses. WU operates in more than 200 countries through a network of 500,000 physical agencies, 100,000 kiosks & ATMs and over the Internet. It transferred more than $ 150 billion in 2015, representing close to 31 transactions per second. Its headquarters is located in Englewood near Denver, Colorado.The topic chosen to be develop has been realized after two months of internship at the Western Union department of Ecobank Togo.This thesis is structured in four parts. The first part will be focused on the introduction and objectives, methodology and research questions. The second part will be on the theoretical part who will include the communication within the company. The third part will have the main work that is the optimization of the money transfer at the Bank. Then the last part will include findings, problems in the company, some proposals and a conclusion.

Keywords

Western Union, Ecobank, SWIFT, ECOWAS, UEMOA, CEMAC, FCFA, BCEAO, ETG

Language used: English

Date on which the thesis was submitted / produced: 30. 3. 2017

Thesis defence

• Supervisor: Ing. Petr Procházka, MSc Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / European Agrarian Diplomacy