A major new financial agreement has been reached to help transform Africa’s private sector. Proparco and Ecobank Group have signed a Memorandum of Understanding at the Africa Forward Summit in Nairobi. This deal marks a significant expansion of a relationship that began in 2012. The two organisations plan to generate up to EUR 300 million in financing over a three-year period. This money is specifically intended to help agricultural businesses and women entrepreneurs.
Agriculture is a massive part of the African economy but often struggles to get enough investment. Proparco and Ecobank want to change this by funding everything from farming and processing to trade. They are aiming to provide EUR 100 million specifically for small and medium-sized agricultural companies. Another EUR 200 million will be directed towards larger agro-industrial projects and the trading of commodities. This is especially important right now because high energy and fertiliser prices are putting a lot of pressure on food supplies.
Jeremy Awori, Chief Executive Officer of Ecobank Group, said: “Africa’s growth requires execution at scale. Through this expanded partnership with Proparco, we are mobilising EUR 300 million and directing it into agricultural value chains and women businesses supported by our Ellevate programme. This is capital at work in the real economy, financing food, livelihoods and local value creation.”
Françoise Lombard, Chief Executive Officer of Proparco, added: “Agriculture is at the heart of Africa’s future, yet it remains one of its most underfinanced sectors. By deepening our partnership with Ecobank, we are combining our strengths to unlock concrete, large-scale solutions across the entire agricultural value chain. This agreement reflects Proparco’s commitment to supporting transformative private sector initiatives that strengthen food security, build resilience and reduce inequalities, including gender inequalities, in line with our 2023–2027 strategy.”
Beyond farming, the partnership will also help women in business through Ecobank’s Ellevate initiative. Proparco is supporting a new training programme for 400 women entrepreneurs in Côte d’Ivoire, Ghana and Kenya. These 12-month training camps will focus on financial management and helping these businesses reach new markets. By combining financial tools with mentoring, the two partners hope to create long-term growth and reduce gender inequality across the continent.
