Ellevate by Ecobank Qorus-Infosys Finacle Banking Innovation Awards 2025

Basic Institutional Profile Ecobank Transnational Incorporated (ETI) is a leading pan-African banking group, founded in 1985 to address the financial needs of West African entrepreneurs. Headquartered in Lomé, Togo, ETI operates in 33 African countries, serving over 29 million customers through a network of more than 1,200 branches. ETI also operates in France and the United Kingdom and maintains representative offices in China, Dubai, and South Africa.

For the year ended December 2024, ETI reported a record profit before tax of $658 million, net revenues of $2.1 billion, and total assets of $27.2 billion, reflecting its strong financial performance and pivotal role in driving economic development in Africa. The bank serves both wholesale and retail customers, offering a wide range of financial services including trade services, cash management, treasury, and digital banking solutions.

Ecobank supports SMEs through innovative products and partnerships, contributing significantly to the socio-economic growth of SMEs and the African continent. We have been recognized as an SME market leader in African, due to our comprehensive and innovative approach to supporting SMEs and providing a unique platform to scale across borders.

Named Africa’s Best Bank for SMEs by both Global Finance (2024) and Euromoney (2022 & 2023), the recognition reflects our consistent excellence in SME banking. We offer a wide range of SME-specific services, including financing, payments, collections, trade facilitation, and digital tools. We also provide non-financial support such as business leadership training, financial literacy programs, and access to markets.

Innovation Award Entry: Ellevate by Ecobank Ellevate by Ecobank is a pioneering initiative launched in 2020 to transform the trajectory of women-owned, led, and focused businesses across Africa. Developed in response to the systemic barriers women entrepreneurs face and the impact of the COVID-19 pandemic, Ellevate offers a tailored blend of financial and non-financial solutions. In 2025, Ellevate entered a bold new phase of innovation and inclusion. The initiative is expanding its reach to embrace informal and unregistered businesses — a critical move to bridge the gap between the informal economy and formal financial systems. With a vision to empower 500,000 women entrepreneurs and disburse $1 billion in loans. Ellevate is not only addressing financial inclusion but also driving systemic change across the continent. Scalability: Built to Grow, Designed to Replicate Ellevate’s model is inherently scalable, leveraging Ecobank’s pan-African footprint across 33 markets and its robust digital infrastructure. The initiative is powered by scalable technology platforms that enable remote onboarding, digital lending, and virtual training. Its design allows for easy adaptation to local market conditions, regulatory environments, and sector-specific needs. Strategic partnerships with development institutions, FinTech’s, and ecosystem enablers further enhance Ellevate’s ability to scale. These collaborations support co-investment, knowledge sharing, and the co-creation of tools that can be replicated across regions. As a result, Ellevate is not just a program — it’s a blueprint for inclusive innovation that can be expanded across emerging markets globally.

Beyond Bronze: The Next Chapter of Ellevate by Ecobank As proud recipients of the 2023 Qorus Banking Innovation Award (Bronze Award), we are excited to share how our women’s initiative is evolving — we are expanding our reach, deepening our impact, and championing the next generation of women entrepreneurs.

Our Solution

Ellevate delivers a dynamic, three-tiered approach to empowering women owned and women-led businesses. First, it promotes financial inclusion by providing tailored financial products and services specifically designed for women SMEs. Second, it focuses on capacity building through business training and leadership programs that equip women with the skills and confidence to lead and innovate. Third, it enhances market access by leveraging digital platforms and strategic networking opportunities that connect women entrepreneurs to both local and international markets. Eligibility Criteria

Ellevate’s eligibility criteria are broad to ensure reach. Businesses can qualify if they are at least 50% women-owned, have a minimum of 20% women in management or governance, employ over 30% women, or produce goods and services specifically for women. This approach has enabled Ellevate to support a range of enterprises across sectors such as education, healthcare, hospitality, commerce, construction, and agri-business.

Impact

Since its inception, in November 2020, Ellevate has delivered measurable results. Approximately 85,000 registered women SMEs have been onboarded, from 9,400 in its first year, representing a 700% growth. Financing has reached $345 million, up from $53 million in the first year, marking a growth of 400%. In 2024 alone over 10,000 women benefited from non-financial support such training, networking opportunities and webinars.

What is New in 2025 - Ellevate 2.0: Deeper Support, Wider Reach, Greater Impact"

What began as an initiative for registered women-owned and women-led SMEs is now expanding its reach to embrace the vibrant and untapped potential of informal and unregistered businesses across Africa. This is our commitment to inclusive entrepreneurship.

Consequently, we have introduced innovative financial products tailored to the unique needs of women entrepreneurs and deepened our non-financial offerings — from capacity-building workshops and mentorship programs to market access opportunities and digital tools. These enhancements are not just additions; they are strategic moves designed to break barriers, close gender gaps, and create a thriving ecosystem where women-led businesses can flourish. In March 2025, we proudly launched the first phase of the expanded Ellevate initiative across nine key markets, aligning with the global celebration of International Women’s Day. This milestone marked the beginning of a bold new chapter — one that brings inclusive innovation to the forefront and extends our reach to even more women entrepreneurs across Africa. Building on this momentum, the second phase of the rollout will take place in June 2025, as we introduce Ellevate to nine additional markets in honor of International SME Day on June 27th — a day that celebrates the backbone of our economies. Our vision is clear: to make Ellevate accessible in all 33 Ecobank markets across Africa, ensuring that every woman-led or women-focused business, whether formal or informal, has the tools to grow, thrive, and lead. With an ambitious goal to empower 500,000 women entrepreneurs and disburse $1 billion in loans over the next few years, Ellevate is scaling its impact across Africa. At the core of this transformation is a bold mission: to formalize over 100,000 informal businesses, unlocking access to finance, markets, and sustainable growth opportunities. This marks the next chapter of Ellevate — bigger, bolder, and purpose-built to reshape the future of women’s entrepreneurship across the continent.

Ellevate by Ecobank is redefining what it means to support women in business — not just through access to finance, but through a bold, innovation-driven ecosystem designed to unlock potential at every level. Whether you're an aspiring entrepreneur or a corporate leader, the expanded Ellevate proposition offers a transformative platform tailored to your journey.

For Aspiring Women Entrepreneurs: From Informal to Influential

Unregistered sole proprietors including those within our Consumer Banking business are invited to step into the formal economy through Ellevate’s inclusive gateway. With technology as a key enabler, these female entrepreneurs gain access to: • Capacity-Building Resources: Practical training programs, expert-led mentorship, and curated networking opportunities to sharpen business acumen and leadership skills. • Smart Financial Solutions: Collateral-free loans and tailored financial products that promote independence and fuel business growth as they formalize their business. • Digital Visibility: Participation in online marketing and promotional campaigns to boost brand awareness and attract new customers.

This is more than support — it’s a launchpad for sustainable success.

For Registered Women-Owned and Women-Focused SMEs: Scaling with Purpose

Ellevate empowers established businesses to grow with purpose and precision. By joining the initiative, registered WSMEs within our Commercial Banking business and our prospective customers will benefit from: • Tailored Financial Solutions: From business accounts and digital payments to receivables and asset financing — including up to $50,000 in collateral-free loans. • Business Development Support: Access to expert-led training, promotional opportunities, and strategic networking to drive growth and reduce gender inequality. • Market Expansion: Leverage the Ecobank Trade Hub, an innovative platform that connects businesses to new markets and cross-border opportunities.

For Corporate Banking Female Leaders: Driving Change from the Top

As we expand the proposition to our Corporate Banking Division, Ellevate also empowers corporate women leaders to align with a mission that champions diversity, sustainability, and social impact. By joining the initiative, they: • Inspire and Empower: Use their influence to uplift the next generation of women entrepreneurs across Africa. • Mentor with Purpose: Participate in structured mentorship programs, guiding emerging leaders in our Consumer and Commercial Banking divisions and fostering a culture of growth, resilience, and innovation.

Where Innovation Meets Empowerment: The Role of Technology in Ellevate"

Technology plays a pivotal role in Ellevate’s success. A standout innovation is Ecobank’s digital lending ecosystem, including platforms like our Digital Merchant Cash Advance with OZE. These tools offer fast, collateral-free credit of up to $20,000 tailored to women SMEs cash flows. To date, they have enabled thousands of small businesses to access over US$2 million in working capital, helping them manage inventory and expand operations. We see this platform as a game changer for our women SMEs particularly as we move into support more women in the informal sector. It will provide greater access to working capital, enabling them to restock inventory, manage day-to-day operations, and scale their businesses with greater agility and confidence.

Ecobank Omni Lite is our proprietary digital banking platform tailored for SMEs clients including women SMEs offering secure, real-time access to payments, account management, and financial reporting. It simplifies business banking with user-friendly tools for transactions, bulk payments, and multi-account oversight across multiple geographies. Ecobank currently has approximately 400,000 SMEs onboarded. Ecobank Single Market Trade Hub: Connecting Africa’s SMEs Through Innovation The Ecobank Single Market Trade Hub is a cutting-edge digital matchmaking platform designed to revolutionize intra-African trade. It enables SME importers and exporters to create business profiles, showcase their goods and services, and seamlessly connect with buyers and suppliers across the continent. With over 10,000 businesses already onboarded, the platform is accelerating cross-border commerce and unlocking new growth opportunities — particularly for women-led SMEs. By integrating payment solutions, collections, financing, and market access, the Trade Hub is transforming how women owned businesses trade, scale, and succeed.

Strategic Partnerships: Fueling Growth Through Capital and Collaboration To support the expansion of women SME lending and deepen financial inclusion, Ecobank has secured a series of high-impact funding and risk-sharing agreements with leading Development Finance Institutions (DFIs). These include a $100 million facility with the IFC, €50 million with Proparco, and a $200 million guarantee with the African Guarantee Fund (AGF). These strategic partnerships significantly enhance Ecobank’s capacity to provide accessible financing to SMEs — especially women entrepreneurs — and reinforce our commitment to driving sustainable economic growth across Africa.

Conclusion - Why Ellevate Stands Out

Ellevate by Ecobank is a bold commitment to inclusive growth, gender equity, and sustainable development — reshaping the entrepreneurial landscape for African women. It stands as a powerful example of innovation with purpose and finance with empathy, delivering real-world solutions that empower women to lead, grow, and thrive. As a scalable and replicable model, Ellevate is not only transforming lives across the continent but also setting a new standard for inclusive finance and development globally.