Togolese visionary behind Ecobank and Asky Airlines’ rise

Key Points

• As co-founder of Ecobank, Djondo helped build a pan-African banking giant that now operates in 35 countries.
• He launched Asky Airlines in 2010, filling the void left by Air Afrique’s collapse and establishing a major regional carrier.
• At 90, Djondo remains chairman of Asky Airlines and a leading advocate for African economic unity.

Gervais Koffi Djondo is one of Africa’s most influential business minds, yet for decades, the institutions he built, Ecobank and Asky Airlines, have often overshadowed the man behind them.

More than just an entrepreneur, he is a financial architect and a bold strategist whose impact can be seen across Africa’s economic landscape.

Through banking and aviation, he has not only transformed industries but also advanced regional integration, proving that African-led institutions can thrive on a global scale.

Reshaping Africa’s banking sector

Djondo’s push to transform Africa’s financial sector began in the late 1970s when he co-founded the West African Federation of Chambers of Commerce.

At the time, African economies were fragmented, and businesses struggled with cross-border transactions due to the lack of a unified banking system. While many saw insurmountable barriers, Djondo saw an opportunity.

Alongside Nigerian businessman Adeyemi Lawson, he championed the creation of Ecobank Transnational Incorporated (ETI) in 1985—a financial institution built by Africans for Africans.

Nearly 40 years later, Ecobank has grown into a powerhouse, operating in 33 countries with over 18,000 employees. Its extensive banking network connects businesses and individuals across the continent, making it a key player in Africa’s financial ecosystem.

In 2024, the bank reported a 21.31 percent jump in net profit to $493.63 million, with total assets reaching $27.96 billion and equity standing at $1.8 billion—figures that highlight its strong financial footing.

Djondo didn’t just want to build another commercial bank. His goal was to strengthen intra-African trade, increase financial inclusion, and offer a homegrown alternative to foreign-dominated banks. Today, Ecobank stands as proof that an African banking institution can compete at the highest level.

Connecting Africa’s skies

But Djondo wasn’t done. He knew that economic growth also depended on better connectivity. The collapse of Air Afrique in 2002 left a huge gap in the aviation sector, making air travel within West and Central Africa expensive and inefficient. While governments struggled to fill the void, Djondo believed the solution lay in private-sector investment.

In 2010, he led the launch of Asky Airlines, a regional carrier designed to connect African cities without routing through Europe. Unlike many African airlines that failed due to political interference and poor financial management, Asky was built with commercial viability at its core.

Today, the airline operates in 25 countries, generating over €300 million ($326.55 million) in annual revenue. By focusing on affordability, reliability, and regional connectivity, Asky has become a crucial link for business travel, tourism, and trade across Africa.

Djondo proved that an African airline could succeed on its own terms—and in doing so, he helped reshape the continent’s aviation landscape.

A lifetime commitment to African development

Born in 1934 in Aneho, Togo, Djondo’s early years were shaped by the discipline of his merchant father.

His path to business leadership wasn’t conventional—before becoming an entrepreneur, he served in Togo’s public sector, heading the country’s social security fund and later becoming Minister of Industry and Public Enterprises

 These roles deepened his understanding of economic development and strengthened his belief that Africa’s future must be shaped from within.

Even in his 90s, Djondo remains a passionate advocate for African self-reliance. His recently published book, L’Afrique d’abord (Africa First), calls on leaders to move beyond colonial-era economic models and build a future based on collaboration and homegrown innovation.

A legacy that endures

Djondo’s contributions to African business are impossible to ignore. Through Ecobank, he changed the banking sector. Through Asky Airlines, he transformed regional air travel. In both ventures, he showed that African-led businesses could thrive and set new industry standards.

His story is one of persistence, vision, and an unwavering belief in Africa’s potential. While his name may not always be as widely recognized as the institutions he built, his impact continues to shape the continent’s economic future. Gervais Koffi Djondo is, without a doubt, one of Africa’s most transformative business leaders.