Key points:
- Ecobank expands Ellevate to support women-led businesses
- Unsecured loans up to $50K, lower collateral requirements
- Access to networking, training, and market expansion tools
WOMEN entrepreneurs play a crucial role in Africa’s economic growth, yet they continue to face significant barriers to financing, markets, and business expansion opportunities. To bridge this gap, Ecobank has announced a major expansion of its Ellevate by Ecobank programme.
Originally designed for women-led, women-owned, and women-focused businesses in commercial banking, Ellevate will now extend its benefits to consumer and corporate banking customers, as well as female business leaders. This expansion aims to provide greater financial and non-financial support to a broader segment of women entrepreneurs across Africa.
Expanding access to finance and business growth
According to the World Bank, closing the gender financing gap in Africa could add $2.5 trillion to the continent’s GDP by 2025. In response, Ecobank has enhanced Ellevate to include:
- Unsecured loans up to $50,000 with competitive interest rates.
- Reduced collateral requirements, improving access to finance.
- Eligibility for businesses with a two-year track record, compared to the industry standard of three years.
- Market expansion opportunities via Ecobank’s digital platform, MyTradeHub, which connects businesses with new customers.
- Training, leadership programmes, and networking opportunities to build business capacity.
- Wealth management and insurance solutions tailored for women entrepreneurs.
- Exclusive discounts and offers through a loyalty programme at select retailers and recreation centres.
A commitment to women’s economic empowerment
Jeremy Awori, CEO of Ecobank Group, reaffirmed the bank’s commitment to supporting women-led enterprises: ‘We recognise and applaud the role of women entrepreneurs in driving Africa’s socio-economic progress. Since launching Ellevate, we have disbursed over $200 million in loans, provided business networking opportunities, and delivered leadership training. With Ellevate 2.0, we are expanding financial access and enhancing value for female entrepreneurs, reinforcing Ecobank as their bank of choice.’
This initiative also aligns with Ecobank’s broader Growth, Transformation, and Returns strategy, positioning gender equality as a key pillar of sustainable economic development.
Launch across Africa in 2025
The expanded Ellevate programme will roll out across nine countries—Burkina Faso, Cameroon, Côte d’Ivoire, Ghana, Guinea, Kenya, Senegal, Togo, and Zimbabwe—by March 2025. Additional countries across sub-Saharan Africa will follow throughout the year.
As Ecobank strengthens its commitment to women entrepreneurs, the Ellevate expansion marks a significant step towards closing the gender financing gap and fostering inclusive economic growth across the continent.
