Ecobank Kenya has strengthened its capital base with a Ksh3.5 billion (USD 27 million) injection. In a statement on March 24, the Bank said the boost brings its total capital to Ksh8.5 billion (USD 65 million) which is well on track towards meeting the Ksh10 billion capital requirements by 2029.
This investment will enable Ecobank Kenya to support business expansion, facilitate regional trade, and promote financial inclusion.
Jeremy Awori, Group CEO of Ecobank Transnational Incorporated said the additional capital will help key economic drivers, including regional businesses, SMEs, FinTech’s, and women-led enterprises.
He stated that the boost will also enhance the bank’s presence in high-impact sectors such as agriculture, manufacturing, ICT & innovation, payments & remittances, and tourism & hospitality.
Ecobank Kenya to Finance More Women
Furthermore, Ecobank Kenya aims to empower emerging industries like green energy, transport & logistics, healthcare, and retail & trade, focusing on sustainable
“Kenya is a strategic market for the Ecobank Group and a key economic hub driving growth across East Africa. This capital reinforcement supports Ecobank Kenya’s ability to seize new business opportunities and deliver long-term value for stakeholders-all in alignment with our Growth, Transformation, and Returns (GTR) strategy,” Awori said.
Josephine Anan-Ankomah, Managing Director of Ecobank Kenya and Regional Executive for Central, Eastern, and Southern Africa (CESA) announced the launch of the enhanced Ellevate by Ecobank in Kenya, designed to provide financial and non-financial support to a broader range of women entrepreneurs, including those in the informal sector.
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She explained that Ecobank Kenya is strengthening its capacity to provide greater financing and support to more women entrepreneurs, further driving economic growth and sustainability.
Since its launch in Kenya, the Ellevate by Ecobank programme has onboarded over 2,000 women entrepreneurs and provided capacity-building to over 5,000 women nationwide.
“This capital reinforcement strengthens our ability to serve as the financial partner of choice for international organizations, regional businesses, SMEs, FinTech’s, and women-led enterprises, while further cementing our leadership in regional trade and payments across Central, Eastern, and Southern Africa,” Josephine said.
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New Packages Offered by Ellevate Programme
The Ellevate by Ecobank programme will now offer up to Ksh6.5M in unsecured loans with competitive rates and better terms.
It will also offer market expansion and mentorship together with exclusive rewards and discounts.
Eligibility has also been lowered to 2 years in business.
Additionally, she emphasized that the Bank would leverage its pan-African payment platform to accelerate innovation and position itself as the partner of choice for Fintech and cross-border payments.
“Beyond financing, our focus is on providing businesses with the capital and expertise they need to scale, create jobs, and drive sustainable economic transformation,” she added.
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