{"id":69993,"date":"2022-10-01T15:06:03","date_gmt":"2022-10-01T15:06:03","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/ecobank-launches-an-initiative-to-elevate-women-entrepreneurs"},"modified":"2022-10-01T16:04:55","modified_gmt":"2022-10-01T16:04:55","slug":"ecobank-launches-an-initiative-to-elevate-women-entrepreneurs","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/ecobank-launches-an-initiative-to-elevate-women-entrepreneurs","title":{"rendered":"Ecobank launches an initiative to elevate women entrepreneurs"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Ecobank Kenya has launched an initiative targeting women entrepreneurs with financial and value-added solutions.<\/p>\n

Dubbed \u2018Ellevate\u2019, the programme aims to help their businesses reach their full potential and succeed.<\/p>\n

According to the pan African lender, Small and medium-sized enterprises (SMEs) account for about 90 per cent of all businesses in Africa and women own about a third of all registered African SMEs.<\/p>\n

Indeed, one in four (25.9 per cent) of adult women in Africa start or manage a business.<\/p>\n

However, women have not enjoyed equal access to high-quality, demand-driven financial services and it is estimated that women-owned SMEs face a $42 billion financing gap, making lack of access to financing a common constraint to their business growth.<\/p>\n

Ecobank Kenya, managing director Cheikh Travaly, said the growth of women-led and women-focused businesses has been long hampered by a range of impediments, including access to finance.<\/p>\n

“We have specially designed Ellevate to meet the needs of women entrepreneurs through the provision of comprehensive, customized and tailor-made solutions,” Travaly said.<\/p>\n

Those solutions include favourable lending rates, smart cash management enablement and a suite of value-added services such as leadership training, mentoring and networking opportunities.<\/p>\n

Ecobank Commercial Bank is allocating a minimum of 10 per cent of its loan portfolio to women\u2019s businesses.<\/p>\n

According to the bank, women-led businesses are a largely underserved market and Ecobank Kenya is determined to help them reach their potential, grasp business opportunities and become both scalable and sustainable.<\/p>\n

“This will enable them to play a major role in Africa\u2019s social and economic development, in addition to creating thousands of the jobs needed by this and future generations of Kenyans.\u201d<\/p>\n

Since Ecobank Group launched the programme in 2020, it has so far extended $208 million in loans and attracted $337.7 million in deposits.<\/p>\n

On average, this financial support has created an average of between 90,000 to 150,000 jobs across Africa largely in the areas of education, agribusiness, hospitality, retail and distributorship.<\/p>\n

During the event, Ecobank Kenya also donated over 6,700 sanitary pads to County Girls High School and Immaculate Hearts Don Bosco centre to support young girls from needy backgrounds.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Ecobank Kenya has launched an initiative targeting women entrepreneurs with financial and value-added solutions. Dubbed \u2018Ellevate\u2019, the programme aims to help their businesses reach their full potential and succeed. According to the pan African lender, Small and medium-sized enterprises (SMEs) account for about 90 per cent of all businesses in Africa and […]<\/p>\n","protected":false},"author":84,"featured_media":69992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6857,7003,544],"class_list":["post-69993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nEcobank launches an initiative to elevate women entrepreneurs - kenya<\/title>\n<meta name=\"description\" content=\"Ecobank Kenya has launched an initiative targeting women entrepreneurs with financial and value-added solutions. 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