Ecobank Launches Ellevate to Empower Women Businesses in Liberia

Monrovia – Ecobank Liberia a subsidiary of the Ecobank Group has launched a women-focused initiative to help empower women-owned and women-focused businesses in Liberia.

The Ellevate program which is designed for businesses owned by women, managed by women, businesses with a high percentage of female board members or employees, and companies that manufacture products for women will help them reach their full potential.

Speaking during the launch over the weekend at its Head Office branch, Sinkor, the Managing Director of Ecobank Liberia, Mr. George Mensah – Asante stressed the importance of women contribution to the economic growth of the country. “Women constitute roughly half of the population in Africa, including Liberia. SMEs account for up to 90% of all businesses in Africa and women own about a third of all registered African SMEs. 1 in 4 of the adult female population in Africa starts or manages a business, making the African continent one of the highest in terms of women entrepreneurs across the world. In Liberia, 53% of the women own and run their own business. It is important, therefore to have a programme designed to improving female businesses in our country”.

 Mr. Mensah – Asante said the women-led economy represents a largely untapped market contributing to the economic development and financial integration of the continent, which according to him, will be further strengthened by Ecobank’s investment in women.

He noted that Ecobank recognizes the contribution women are making to the socio – economic development of Africa and must commend and support them appropriately. “We are pleased, through our Ellevate programme, to offer women in this country an opportunity to take their rightful place in the economic development of Liberia.  We will work with women – focused and women – owned businesses to enhance their potentials and create inclusive business opportunities”.

 He further stated that in developing Ellevate the bank took into consideration the needs of women; what women required from their bankers and successfully came up with practical solutions that will help bridge identified gaps. These businesses will benefit from smarter cash management solutions, favorable lending rates and value-added services such as leadership training and networking opportunities.

 Serving as Guest Speaker, the founder and Chief Executive Officer of Silver Incorporated, Madam Ruth Ibrahim called on female business owners to be consistent in running their respective businesses. “Success is a proof of consistency, accountability, and quality delivery of goods and services that your business offers. Appreciating and valuing your customers makes a business fail or prosper. Therefore, your service today must be better than what it was yesterday”.

She commended the Management of Ecobank for launching a programme designed for women businesses. “Thank you Ecobank for building a better Africa and elevating the power of women with differential business and financial solutions through your Elevate programme. Ecobank is indeed an icon amongst the banking institutions in Liberia and other 33 African Countries.

About Ecobank

Ecobank Liberia is an affiliate of Ecobank Transnational Incorporated (ETI), the pan-African financial conglomerate headquartered in Lomé, Togo, which operates in 33 countries in sub-Saharan Africa. Ecobank Group also has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK, and Dubai, the United Arab Emirates.

The Group offers a full suite of banking products, services, and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth, and asset management. ETI is listed on the Nigerian Stock Exchange in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan.

 For further information, please visit www.ecobank.com.  If you own or lead a women-focused business and are looking to join the Elevate programme, please visit www.ecobank.com/ellevate for further information.

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