Ecobank Group commits US$2.6bn to women-led businesses and agribusinesses across Africa

Ecobank Group has pledged a combined $2.6 billion to support women-led businesses and agricultural ventures across its 34 African operations by 2030. The announcement was made at the Ecobank@40 Media Conference in Lomé, marking the bank's 40th anniversary. The funds will be allocated to two main initiatives: $2.0 billion for women entrepreneurs through Ecobank's Ellevate programme, and $600 million for agribusiness-focused SMEs.

Ecobank aims to create a $2.0 billion loan portfolio for women-led enterprises by 2030, with a target of increasing its client base to 400,000 formal businesses. The Ellevate framework will offer unsecured and partially secured credit, backed by strategic development finance institution partnerships. The funds will primarily target sectors such as agribusiness, education, and healthcare.

Additionally, Ecobank will commit $600 million in outstanding loans for agribusiness SMEs by 2030, focusing on the wider agricultural value chain and climate-smart agriculture. The financing will include working capital, trade loans, and investment funding, supported by guarantees from development finance institutions and risk-sharing facilities.

Ecobank's Single Market Trade Hub, a digital marketplace connecting over 60,000 African businesses, will facilitate cross-border trade for women entrepreneurs and commercial SMEs. The bank aims to pursue growth through expanded credit and de-risking, cross-border trade, digitalisation, and capacity building, emphasizing gender-smart financing and food sovereignty as driving forces for African development.

Ecobank CEO Jeremy Awori emphasized that the bank's 40th anniversary serves as a foundation for Africa's next economic chapter, stating that the commitments will turn gender-smart financing and food sovereignty into the primary engines of African growth.