Ecobank Ghana has reinforced its dedication to empowering women entrepreneurs, investing a total of $84 million in women-led businesses over the past four to five years. This initiative has played a pivotal role in launching the expanded Ellevate Programme, a comprehensive effort designed to support female entrepreneurs at every stage of their business journey.
Speaking at the Women in Business Dialogue Series organized by Business and Financial Times (B&FT) in Kumasi, Charlotte Amanquah, Regional Head of Commercial Banking at Ecobank, highlighted the bank’s ongoing commitment to fostering inclusivity and innovation in Ghana’s business landscape.
“Women are the backbone of Ghana’s economy, and their contributions cannot be overstated. At Ecobank, we believe that empowering women entrepreneurs is not just a social responsibility but a strategic imperative for sustainable development,” she stated.
Ellevate Programme: Empowering Women Entrepreneurs
The Ellevate Programme is a structured initiative that supports women at various levels of entrepreneurship. It caters to unregistered startups, registered SMEs looking to scale, and seasoned executives aiming to mentor the next generation. The programme provides key benefits such as:
- Collateral-free lending – Making financial resources more accessible.
- Low-interest rates – Reducing barriers to growth and expansion.
- Capacity-building workshops – Enhancing business acumen and skills.
- Mentorship opportunities – Connecting experienced leaders with emerging entrepreneurs.
Amanquah emphasized that Ecobank’s strong presence in 33 African countries uniquely positions it to assist Ghanaian businesses in accessing regional and international markets. For larger enterprises, the bank provides structured trade solutions and market access support, particularly for those looking to expand through exports.
Challenges Facing Women Entrepreneurs
Despite their significant contributions to Ghana’s economy, women entrepreneurs continue to face barriers, including limited access to finance, mentorship, and essential business resources. Addressing these challenges is a priority for Ecobank and the Ghanaian government.
At the event, Ashanti Regional Minister Dr. Frank Amoakohene, in a speech delivered on his behalf, announced the government’s plans to establish the Women’s Development Bank. This initiative aims to provide tailored financial solutions, capacity-building programmes, and a robust support system to address the unique needs of women-led businesses.
“The Women’s Development Bank will be a game-changer for female entrepreneurs, ensuring they receive the financial backing and resources needed to scale their businesses,” Dr. Amoakohene noted. “By investing in women, we are investing in families, communities, and the future of our nation.”
He further emphasized the broader impact of empowering women, citing research that links women’s economic success to higher education rates for children, increased community prosperity, and overall societal equity.
Recognizing Women’s Contributions
Women entrepreneurs across Ghana have demonstrated resilience, creativity, and an unwavering commitment to excellence. Recognizing their efforts, Dr. Amoakohene commended B&FT for establishing the Women in Business Dialogue Series, describing it as a crucial platform for sharing ideas, building networks, and fostering an environment where women can thrive.
B&FT’s Chief Executive Officer, Dr. Godwin Acquaye, reinforced the importance of equipping women with the right skills, networks, and financial resources, particularly in high-impact sectors such as agribusiness and technology.
Women in Business Dialogue Series: Driving Economic Inclusion
The Women in Business Dialogue Series, hosted by Business and Financial Times (B&FT) in collaboration with Ecobank, focuses on expanding job opportunities for women in agribusiness and technology. The event is supported by key partners, including Stanbic Bank, Agrihouse, World Vision Ghana, Lancaster Kumasi City, Petra, and Glico.
Under the theme “Creating an Inclusive Economy: Scaling Jobs for Women Through Agribusiness and Technology,” the dialogue serves as a vital forum for exchanging ideas, forging strategic partnerships, and developing actionable solutions to drive meaningful economic impact.
With ongoing investments like Ecobank’s Ellevate Programme and the upcoming Women’s Development Bank, Ghana is poised to accelerate women’s financial inclusion and entrepreneurship. These initiatives underscore the critical role women play in economic growth and development, paving the way for a more inclusive and prosperous future.
