Former minister of trade and Industry Dr Ekwow Spio Spio-Garbrah has been appointed the President for Africa and Global Managing Director of the Global ECO Capacity Exchange (ECO).
The ECO digital economy financing solution introduces a transformational economic innovation capable of unlocking immense value from the world’s abundance of underutilised capacity, enabling material economic growth at scale.
Established in London in 2009, ECO’s business objective is to establish a global marketplace that digitalises and improves the efficiency of the estimated $5 Trillion of world trade that is currently conducted without using cash.
Importantly, ECO also introduces an alternative digital currency that improves how value can be exchanged between parties in a way that it is more inclusive, equitable and trustworthy.
Commenting on the appointment of Dr. Ekwow Spio-Garbrah, Mr. James Fierro, founder and CEO of ECO, lauded him as a distinguished Ghanaian who joined ECO after gaining international credibility through numerous high-level appointments on the world stage for nearly 45 years.
“Ekwow has held senior leadership positions for some of the most prestigious global organisations, including Hill and Knowlton, Southwestern Bell, the World Bank/IFC, the African Development Bank and the Commonwealth Telecommunications Organisation,” he said.
Dr. Spio-Garbrah has also been an Ambassador to the USA and a Minister in four portfolios: Communication, Education, Mines and Energy, and Trade and Industry. He has been a Chief Executive of an intergovernmental organisation and a Board member of several international companies.
He is also an entrepreneur who has started and sustained companies and thus, has a deep understanding of the various challenges faced by a company with ECO’s global ambitions.
“Above all, Ekwow has impressed us as a man of very high integrity with a genuine passion and desire to improve the economic and social conditions across the African continent who is dedicated to help Africa realise its enormous potential and deliver on the African Union’s vision of the ‘Africa we Want’,” said Mr. Fierro.
According to Adrian Saunders, ECO’s President for Global Operations, “ECO is currently at a very critical stage in its expansion into Africa.
Having someone like Ekwow at the helm of our Africa operations should give very sound assurance to our African and global stakeholders that ECO continues to make tremendous strides.”
Currently, Ekwow is helping us develop and refine our business plan for our African market entry. This involves establishing relationships with key stakeholders across Africa. We are impressed with Ekwow’s sound grasp of business issues, his diplomatic skills, his knowledge and training in banking and finance, and his passion for change. Ekwow’s early experience in advertising and marketing, and his reputation as amongst the best communication professionals in Africa, all make him a great asset to our organisation,” he said.
Mr. Fierro said among the first tasks of Mr. Ekwow Spio-Garbrah is helping ECO with the establishment of the company's physical presence in some targeted African countries.
This is to begin with the creation of an ECO operational hub in Accra, Ghana, where the African Continental Free Trade Area (AfCFTA) Secretariat has been established.
Commenting on his appointment as ECO President for Africa, Mr. Spio-Garbrah stated: “The ECO digital solution has the potential for revolutionising and transforming the African continent. I am excited about ECO’s potential for unlocking the vast potential of Africa, much of whose development has been held up by inadequate resources.
By unlocking and freeing-up some of Africa’s unutilised capacity, through a new source of credit, additional resources will be released for Africa’s development.
I have been an advisor to ECO for some 10 years and have observed first-hand the extensive and thoughtful work and progress the company had made in introducing a truly transformational economic solution for the global economy.
Now, I am pleased to come forward to join the ECO team in working to unleash Africa’s tremendous energies and hidden assets.”
ECO has established a robust governance system that involves an innovative mutual structure, ECO World Alliance LLP(EWA), which is responsible for the issuance and ongoing integrity of the ECO, to ensure it has the highest degree of trust and confidence in all aspects of credit allocation, risk, stability and backing.
EWA serves as a public-private central bank, with the ability to issue the ECO digital currency as a form of credit to facilitate trade among Exchange members.
ECO Capacity Exchange is a transformational economic innovation that improves how value can be recognised and exchanged and in a way that is more inclusive, equitable and trustworthy.