Ecobank unveils advancement of gender financing programme, Ellevate 2.0.

The ceremony which marked the kickoff of the programme, took place at the Ellevate branch in Bonanjo, Douala. It saw the presence of the top management of Ecobank Cameroon, prominent women in business, regional delegates of women’s empowerment and the Ministry of Small and Medium-Sized Enterprises, Social Economy and Handicrafts.

On the sidelines of the launch, seasoned women entrepreneurs shared insights on networking and the importance of mentorship, support in female entrepreneurship. 

In her opening remarks, Ecobank's Managing Director, MD, for Cameroon and CEMAC cluster, Gwendolyn Abunaw, recalled the groundbreaking success the Ellevate Programme has had since inception.

"It been one year since we opened this women-dedicated branch Ellevate and it's been a huge success so far. We are very happy on the input that we had on the community, on the women on bank," she said.

Abunaw added that March 5, 2025, did not only mark the anniversary but the launching the " Ellevate 2.0", which is a more inclusive upgraded version of the programme. 

The original version, she said, was very much focused on the Small and Medium-Sized Enterprises, SMEs.

She said given the impact that it has had, "we thought of including those who are not yet formal but have great ideas this will have much more impact on women entrepreneurs and the economy of the country…that is what Ellevate 2.0 is all about, more inclusive and more versatile for the economy".

Officials disclosed that going by data, women own a third of all businesses in Africa. They revealed that in Cameroon, they own 39% of SMEs, yet despite these statistics, they struggle with closing the financing gap with male counterparts due to collateral challenges. This, analysts say, is a major road block to economic growth. 

The World Bank estimates that closing the gender gap in Africa could add $2.5 trillion to the continent's GDP by 2025, underscoring the urgency of investing in women – not just for social justice, but for a more prosperous and equitable future for all Africans

It was against this backdrop that Ecobank launched "Ellevate". Through the initiative, over 1,300 women have received financing of over 3 billion FCFA. The Managing Director said the branch in Bonanjo has become a bedrock for networking amongst women. 

She said Ellevate 2.0 will bring in more exiting transformation for every business woman in Cameroon and in every sector. Abunaw said Ellevate 2.0 offers enhanced customer value, financial non-financial services designed for female entrepreneur and tailored solutions to each person's reality. 

"It's about delivering exceptional value to female entrepreneur, fostering inclusive economy growth, closing gender gap, aligning with the initiative of Cameroon through its Ministries empowering women and that of SMEs. It's about Ecobank’s commitment for inclusive financing where every woman can reach her full potential. Their success will be our success. Your presence reinforces that belief that together that environment where every woman can reach her full potential is reached," Abunaw added.

How Ellevate Programme works 

Explaining the programme, the Chief of the women-focused agency, Aimée Georgette Ngo Piim, said since Cameroon implemented Ellevate in 2021, they have worked with both public and private enterprises.

Ngo Piim insisted that the programme was designed to the fit local realities with basic, medium and premium package. She said the packages also take into consideration salary earners or persons who have attained a certain level in entrepreneurships.

The Ellevate package, it was said, comes along with training, knowledge sharing webinars, support and other initiatives to enhance customers’ business and leadership skills, customized wealth management services, a one-stop shop to meet insurance needs and loyalty programme providing exclusive offers and discounts at select retail stores and recreation centres.

To be eligible for the programme, a company must be led by a woman or the number of employees are about 5% made up of women, produces women kind of products, employs 30% of women, have 20% of women within the Board of Directors.

This article was first published in The Guardian Post Edition No:3388 of Monday March 10, 2025