Ecobank Group has announced a commitment of $2.6 billion in targeted lending to women-owned businesses and agricultural value chains across Africa by 2030. The Pan-African banking group made this announcement at the Ecobank@40 Media Conference in Lomé, as it begins its next phase of growth after marking its 40th anniversary. This move aims to support economic growth, food security, industrialisation, and regional trade across the bank’s 34 African markets.
The commitment includes $2 billion earmarked for women entrepreneurs and $600 million for agriculture-focused small and medium-sized enterprises (SMEs). According to Jeremy Awori, the Group’s Chief Executive Officer, these commitments are part of efforts to use the conclusion of its 40th anniversary year as a launchpad for Africa’s next economic chapter. Awori emphasized that Africa’s industrialisation requires more than financing agricultural harvests, while women entrepreneurs continue to face gaps in access to capital.
Under its Elevate by Ecobank programme, the bank plans to build an outstanding loan portfolio of $2 billion for women entrepreneurs by 2030. Ecobank has already supported more than 110,000 women-led enterprises and plans to increase its registered client base to 400,000 formal businesses. The bank also aims to create funding pathways for up to one million female micro-entrepreneurs across the continent through expanded digital onboarding and financial inclusion initiatives.
The expanded Ellevate programme will provide unsecured and partially secured credit facilities, supported by partnerships with development finance institutions (DFIs) through guarantee arrangements. The financing will focus on sectors including agribusiness, education, and healthcare, according to the bank. This initiative is expected to drive growth and support women-led businesses across Africa.
Ecobank is also targeting $600 million in outstanding loans to agriculture-focused SMEs by 2030 as part of efforts to strengthen food production and agricultural industrialisation across Africa. The initiative will cover the wider ‘farm-to-fork’ value chain, including farmers, aggregators, processors, logistics providers, traders, and exporters. This approach is designed to help reduce Africa’s dependence on food imports while strengthening regional food markets.
A key component of the strategy is the Ecobank Single Market Trade Hub, a digital marketplace connecting more than 60,000 businesses across Africa. Through the platform and Ecobank’s pan-African payment infrastructure, women-led agribusinesses and other SMEs will be able to connect with buyers and suppliers across borders and access multi-currency payment services. The bank said the system would also support businesses seeking to capitalise on opportunities under the African Continental Free Trade Area (AfCFTA).
The implementation of the commitments will focus on expanding credit and risk-sharing arrangements, strengthening cross-border trade, digitalising value chains, and providing capacity-building support. With these initiatives, Ecobank aims to drive economic growth, support women-led businesses, and strengthen agricultural value chains across Africa. The bank’s efforts are expected to have a positive impact on the continent’s economic development.
Key points
- Ecobank commits $2.6 billion to support women-owned businesses and agricultural value chains across Africa by 2030.
- The bank aims to build an outstanding loan portfolio of $2 billion for women entrepreneurs and $600 million for agriculture-focused SMEs by 2030.
- Ecobank’s initiatives are expected to drive economic growth, support women-led businesses, and strengthen agricultural value chains across Africa.
