Ecobank has expanded its flagship financing programme, Ellevate, to provide even greater support for women entrepreneurs across Africa. Now rebranded as Ellevate 2.0, the initiative is designed to be “bigger, better, and more inclusive,” offering tailored financial and non-financial solutions to women-led businesses in both the formal and informal sectors.
Recognising the vital role women entrepreneurs play in driving Africa’s socio-economic progress, Ecobank remains committed to supporting them at every stage of their journey.
“Since the launch of the Ellevate programme, we have made significant progress, disbursing over US$200 million in loans, providing business networking opportunities, and offering leadership and capacity-building training for businesswomen,” said Jeremy Awori, CEO of Ecobank.
Previously focused on corporate and small-to-medium-sized enterprises (SMEs), Ellevate 2.0 now extends its reach to individual entrepreneurs, including those operating in informal markets. With enhanced financial offerings, Ecobank aims to position itself as the preferred banking partner for women in business.
“Today, Ellevate 2.0 heralds in a new era for gender financing. It is bigger, better and more inclusive, delivering exceptional value to female entrepreneurs and women business leaders. Enhancing our products and solutions for women entrepreneurs to position Ecobank as their bank of choice is an integral component in accelerating the success of our Growth, Transformation and Returns strategy’s objectives. It also supports our group-wide objective of promoting gender equality and contributing to sustainable development,” Awori added.
To bridge the gender financing gap, the revamped programme offers increased access to capital, including unsecured loans of up to US$50,000, competitive interest rates, and relaxed collateral requirements. Additionally, entrepreneurs with a two-year business track record can now qualify for support, reducing the previous three-year industry standard.
Beyond financial assistance, Ecobank is also helping women-led businesses expand their reach. Through its innovative MyTradeHub platform, the bank will connect clients to new markets and customers across Africa, fostering business growth and cross-border trade opportunities.
Ellevate 2.0 will launch in nine African countries—Burkina Faso, Cameroon, Côte d’Ivoire, Ghana, Guinea, Kenya, Senegal, Togo, and Zimbabwe—by the end of March 2025. A phased rollout will then extend the programme across Ecobank’s other sub-Saharan affiliates throughout the year.
The importance of investing in women entrepreneurs cannot be overstated. According to the World Bank, closing the gender gap in Africa could add US$2.5 trillion to the continent’s GDP by 2025. With Ellevate 2.0, Ecobank is taking a decisive step towards making that vision a reality—championing gender-inclusive growth for a more prosperous Africa.
