Ecobank targets $2.6 billion lending portfolio for women-led businesses and agriculture by 2030

Pan-African banking group Ecobank plans to build a $2.6 billion lending portfolio for women-led businesses and agricultural value chains across Africa by 2030, as it expands financing for sectors it considers important to the continent’s economic development.

The target, announced on Sept. 24 during the bank’s 40th-anniversary media conference in Lomé, comprises $2 billion for women entrepreneurs and $600 million for agriculture-focused small and medium-sized enterprises.

Under its Ellevate programme, Ecobank plans to build a $2 billion outstanding loan portfolio for women-led businesses by 2030. The bank currently says it has supported more than 110,000 women-led enterprises and aims to increase its formal women-led business client base to 400,000.

The programme will offer unsecured and partially secured credit facilities, supported by guarantee partnerships with development finance institutions. Financing will focus on sectors including agribusiness, education and healthcare.

Ecobank also plans to provide financing to agricultural businesses across the full value chain through a $600 million lending target. The programme will cover farmers, aggregators, processors, logistics providers, traders and exporters rather than focusing only on seasonal agricultural production.

The bank said its “Farm-to-Fork” approach will include working capital, trade loans and investment financing, alongside support for climate-smart agriculture, digital payments and structured trade finance.

Ecobank plans to use its Single Market Trade Hub, a digital platform connecting more than 60,000 businesses across Africa, to help women entrepreneurs and agricultural SMEs access regional buyers and suppliers. The bank also intends to facilitate multi-currency payments under the African Continental Free Trade Area.

The bank said the financing will be accompanied by business management, export-readiness, leadership and sustainable agriculture training.

The $2.6 billion target represents a planned lending portfolio to be built by 2030, rather than funds already disbursed. Ecobank operates across 34 African markets and said the initiative forms part of its strategy for its next phase of growth following its 40th anniversary.