Launched in 2020, the program was presented to the public on Saturday, February 24, during a conference organized by the pan-African bank at the Yaoundé International Business, SME and Partnership Exhibition (Promote).
Ecobank is a pan-African financial institution that has been working for several years for the development of Africa. It is present on the continent through 33 subsidiaries.
With the ambition of filling the financing gap faced by African women entrepreneurs and providing them with quality support, the bank launched the “ ellevate ” program in 2020, one of its flagship innovations.
The outlines of this program were discussed during the 9th edition of the Promote Salon, at the Palais des Congrès in Yaoundé.
“ellevate” is a solution that aims to develop, support and strengthen female entrepreneurship. That is, women-owned and women-centered businesses. “We do this because we know that the income generated by women’s activities is reinvested in their families and communities. So, for a woman who is in business, when her activities are doing well, it is her children and those of her extended family who will be better educated, cared for if they are sick, who will be able to get a good education. It is such an ecosystem that we want to build, even if it is on a small scale,” explains Linda Nnanga, from the Center-North ellevate desk.
To be eligible for this innovative program, businesses must be “owned or led by women; have a high proportion of women on the board of directors or employees; making products for women. Note that only one of the conditions is enough for a company to benefit from “Ellevate” offers.
Program solutions
“elevate” offers a range of “tailor-made” services depending on the needs and type of business. “The program offers non-financial support, because we know that women need financial education, they need guidance. We also offer financial support solutions and networking through our digital solutions such as the trade hub,” argues Linda Nnanga .
She invited women entrepreneurs to “leave the informal sector, to formalize their activities in order to have a moral, legal and established personality. We also encourage them to benefit from our training through the Ecobank academy. And to become familiar with our digital products and services which allow them to manage their accounts without having to travel to our agencies,” she emphasized.