Ecobank has received two awards for its Ellevate Program. The Financial Alliance for Women honoured Ecobank with the Impact Award, recognizing Ecobank’s work in supporting women owned and focused businesses across Africa.

Ellevate by Ecobank was also feted with the Best New Product Launch of the Year award at the Middle East and Africa Retail Banking Innovation Awards. Ecobank was also awarded the Excellence in SME Banking award the awards ceremony.

Since its inception in November 2020, Ecobank’s Ellevate program has awarded thousands of new women’s businesses advanced loans worth Ksh. 5.8 billion (USD 52.5 million) and attracted deposits of Ksh. 14 billion (USD 125 million).

Other initiatives implemented by Ecobank to support SMEs include the following.

Josephine Anan-Ankomah, Ecobank Group Executive, Commercial Banking said, “Ellevate by Ecobank for women-owned, led or focused businesses is scaling heights in meeting the needs of these traditionally underserved entrepreneurs who have so much to offer to Africa’s commercial and economic development. The African continent is one of the highest in terms of women entrepreneurs globally, with one in four women starting or managing a business. Ecobank’s specially designed Ellevate program facilitates women’s businesses innovation and success by providing them with tailor-made relevant financial and non-financial solutions to meet their evolving needs.”