Ecobank Group Empowers Women Businesses Through Ellevate
The Ecobank Group has launched ‘Ellevate’, a programme for
women-owned and women-focused businesses across 33 markets. This programme is
designed to help women reach their full potential by empowering, growing and
supporting them with customized financial and value-added solutions.
Women constitute roughly half of the population in Africa. SMEs account for up
to 90% of all businesses in Africa and women own about a third of all
registered African SMEs. 1 in 4 of the adult
female population in Africa starts or manages a business, making the African
continent one of the highest in terms of women entrepreneurs across the world.
The Women-led Economy represents a largely untapped market. Ecobank’s
commitment to positively contributing to the economic development and financial
integration of the continent will be further strengthened by our investment in
women.
A healthy collaboration between Government and Private sector is critical for
the creation of a conducive environment in which women can thrive and succeed.
“The Government recognises the contribution
women are making to the socio-economic development of Africa. We believe
women are the catalyst for change and prosperity. The Government of Togo
continues to develop and implement policies and programmes that will promote
the economic empowerment of women of all ages and social status. Togolese women
have always played a critical role in the economy. We are pleased to see that
the Ecobank Group, through the Ellevate programme, offers to women an
opportunity to take their rightful place in the economic development of our
country and indeed across the continent. We will work with the private sector
to tap into this great potential of African women and create inclusive business
opportunities.”, stated Mrs. Myriam Dossou-D’ Almeida, the Minister of Grassroots
Development, Youth and Youth Employment, Republic of Togo.
“The empowerment of women is not only a
developmental issue. It is very much an economic issue. Financial institutions
that recognise the changes that are happening globally and are taking steps to
ensure that they are participating in this emerging market, will more fully
reap the economic benefit of their investment.”, said Graça Machel,
Founder, Graça Machel Trust and, Foundation for Community Development.
The Ecobank Group recognises the strategic importance of women on the continent
and the need to continually support them to reach their full potential.
“In developing Ellevate, we made time to
understand the needs of women, what they really require from their bankers, and
came up with practical solutions that will help bridge the identified gaps.
Ellevate is an end-to-end comprehensive product
suite that supports women-owned and women focused businesses with
differentiated business solutions that will unleash their potential.”,
stated Josephine Anan-Ankomah, Ecobank Group Executive, Commercial Banking.
“Ellevate by Ecobank is designed for businesses
owned by women, managed by women, businesses with a high percentage of female
board members or employees and companies that manufacture products for women.
These businesses will benefit from smarter cash management solutions,
favourable lending rates and value-added services such as leadership training
and networking opportunities. All these will ensure that their businesses can
scale and remain sustainable. We intend to allocate 10 percent of our
Commercial Banking loan portfolio to help bridge the financing gap.”,
added Josephine Anan-Ankomah.
To formally launch Ellevate by
Ecobank, Ecobank Group held a webinar on November 27th 2020 with an
English session at 9:00 AM GMT and a French session at 3.00 PM GMT.