Ecobank Group has announced plans to provide a combined US$2.6 billion in financing by 2030 to support women-owned businesses and agricultural value chains across its 34 African markets.
The pan-African banking group made the announcement during the Ecobank@40 Media Conference in Lomé, marking the conclusion of its 40th anniversary celebrations.
$2 Billion Financing for Women Entrepreneurs
Under the new commitment, Ecobank plans to allocate US$2 billion to women entrepreneurs through its flagship Ellevate programme.
The financing initiative is expected to improve access to capital for women-owned businesses and support their expansion across different sectors of the African economy.
Ecobank said the programme forms part of its broader strategy to promote financial inclusion, entrepreneurship and sustainable economic growth across the continent.
$600 Million for Agricultural SMEs
The remaining US$600 million will be directed towards agriculture-focused small and medium-sized enterprises (SMEs) and agricultural value chains.
The funding is expected to help businesses operating within the agricultural sector access financing needed to expand operations, strengthen supply chains and contribute to food and economic development.
Ecobank Expands Support for African Businesses
Ecobank said the combined US$2.6 billion lending commitment represents part of the bank’s next phase of growth, with greater emphasis on economic transformation, financial inclusion and sustainable development.
The strategy is aimed at supporting businesses across Ecobank’s 34 African markets while expanding access to financial services and investment capital.
The bank’s focus on women-owned enterprises and agricultural SMEs also highlights the role of small businesses and entrepreneurs in driving economic activity, creating jobs and strengthening local value chains.
As Ecobank enters its next phase following its 40th anniversary, the new financing commitments are expected to reinforce its support for African entrepreneurs, SMEs, agriculture and inclusive economic development through 2030.
Source: newsthemegh.com