Ecobank backs women entrepreneurs’ growth

DAR ES SALAAM: THE Ecobank Tanzania has reaffirmed its commitment to empowering women entrepreneurs, particularly small and medium-sized enterprises (SMEs) to accelerate financial inclusion and strengthen economic opportunities.

Through its flagship programme ‘Ellevate by Ecobank’ the lender provides both financial and non-financial solutions tailored to address challenges commonly faced by women-led businesses, including limited access to loans and other financial services.

Ecobank Tanzania Managing Director, Dr Charles Asiedu, said the initiative reflects the bank’s vision of inclusivity in the marketplace, where many women entrepreneurs still face barriers to finance, networks, and growth opportunities.

“We recognise that when women thrive, societies and economies flourish.

“That’s why we are reflecting this at every level, with a 50-50 gender balance in our workforce and leadership,” Dr Asiedu said during the official launch of the progamme over the weekend.

Since its inception three years ago, the initiave has onboarded more than 1,000 women entrepreneurs across the country.

As part of the initiative, the lender is offering innovative digital banking services, seamless payment systems and advanced cash management tools to help women entrepreneurs operate more efficiently.

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In addition, the programme will also provide training courses designed to strengthen business and leadership skills, equipping women with the knowledge and confidence to scale their enterprises sustainably.

Ecobank’s Head of Commercial Banking, Ms Joyce Ndyetabura said the enhanced programme will also enable women entrepreneurs to access unsecured loans of up to 50,000 US dollars, allowing SMEs to grow without the burden of collateral requirements.

“Not only that, this programme will also connect ready-businesses to penetrate both local and international markets,” she added.

Echoing the importance of the programme, Ms Shukurani Mkondya, a business owner from Kariakoo said elevate will play a crucial role in empowering women to run more productive businesses, ultimately enabling them to uplift themselves economically.