In a bid to close the gender financing gap for women entrepreneurs across Africa, Ecobank, a leading pan-African financial services group, has announced significant upgrades to its award-winning gender-financing initiative, Ellevate by Ecobank.
These enhancements reinforce Ecobank’s dedication to women-owned, women-led, and women-focused businesses while strengthening its market position.
Ecobank Group CEO, Jeremy Awori, emphasized the bank’s commitment to supporting women entrepreneurs, recognizing their vital role in driving socio-economic progress across the continent.
“Since the launch of the Ellevate program, we have made remarkable strides—disbursing over $200 million in loans, facilitating business networking, and providing leadership and capacity-building training for businesswomen,” Awori stated.
With the introduction of Ellevate 2.0, Ecobank is ushering in a new era of gender financing, offering expanded and more inclusive solutions tailored to female entrepreneurs and business leaders.
“This initiative also aligns with our broader commitment to gender equality and sustainable development,” Awori added.
According to the World Bank, closing Africa’s gender gap could contribute an additional $2.5 trillion to the continent’s GDP by 2025, highlighting the urgency of investing in women—not just as a social imperative, but as a catalyst for economic growth and equity.
The upgraded Ellevate program offers increased financial access, including unsecured loans of up to $50,000, competitive interest rates, and favorable collateral terms. Additionally, women entrepreneurs can leverage Ecobank’s MyTradeHub platform for market expansion, participate in knowledge-sharing webinars, and receive business and leadership training.
Coinciding with International Women’s Day celebrations, the enhanced Ellevate program will be launched by the end of March 2025 in nine Ecobank affiliates—Burkina Faso, Cameroon, Côte d’Ivoire, Ghana, Guinea, Kenya, Senegal, Togo, and Zimbabwe. A phased rollout across other sub-Saharan African affiliates will follow throughout the year.
