By Elizabeth PUNSU, Sandra Agyeiwaa OTOO
Ecobank Ghana has reaffirmed its commitment to supporting women entrepreneurs, having invested a total of US$84million into women-led businesses over the past four to five years.
This, according to Regional Head-Commercial Banking, Charlotte Amanquah, led to launching the expanded Ellevate Programme – a groundbreaking initiative designed to empower women at every stage of their business journey.
Ms. Amanquah, who was speaking at the Business and Financial Times (B&FTs) flagship Women In Business Dialogue series in Kumasi, emphasised the bank’s dedication to fostering inclusivity and innovation.
“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 said.
The Ellevate Programme is a comprehensive initiative that caters to women across all levels of entrepreneurship.
From unregistered individuals with budding ideas to registered SMEs ready to scale and even seasoned executives looking to mentor the next generation, the programme offers tailored support to meet diverse needs.
Key features of the programme include collateral-free lending, low-interest rates, capacity-building workshops and mentorship opportunities.
She mentioned further that due to Ecobank’s unique advantage with its presence in 33 African countries, the bank is enabled to support Ghanaian businesses in accessing regional and international markets.
For larger enterprises, the bank offers structured trade solutions and market access support, particularly for those looking to export their products.
She further hlighted the critical role women play in driving economic growth and development in Ghana.
Despite the critical role played by women entrepreneurs in the country, access to finance, mentorship and resources remain a significant barrier to their growth.
However, the Ashanti Regional Minister, Dr. Frank Amoakohene in a speech read on his behalf at the event mentioned it is due to these reasons that government is set to establish the Women’s Development Bank.
He noted that this will be a game-changer for women owned businesses as provides tailored financial solutions, capacity-building programmes and a support system designed to address the unique challenges faced by women entrepreneurs.
He further noted that the Women Development Bank will not only empower individual business owners but also catalyse economic growth across the region.
“By investing in women, we are investing in families, communities and the future of our nation. Studies have shown that when women succeed, the ripple-effects are felt far and wide; children receive better education, communities become more prosperous and societies become more equitable,” he added.
He then touted women entrepreneurs’ resilience, creativity and unwavering commitment to excellence – commending B&FT for instituting the Women in Dialogue series and saying it is a crucial platform for sharing ideas, building networks and fostering an environment where women can thrive.
For his part, Chief Executive Officer-B&FT Dr. Godwin Acquaye, in his opening remarks, urged stakeholders to ensure that women have the right skills, networks and financial resources to thrive in agribusiness and technology.
The Women in Business Dialogue Series, organised by Business and Financial Times (B&FT) in collaboration with Ecobank, focuses on strategies to expand job opportunities for women in agribusiness and technology.
Partners include 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 seeks to help exchange ideas, forge partnerships and develop actionable solutions that will create real impact.
