Ecobank Transnational brands itself as a pan-African lender – and such it is. Founded in 1985, it now serves millions of customers across 33 sub-Saharan African markets. And with so many multinational banks having made their excuses and departed, it is now arguably more important and integral to the region’s smaller businesses than ever before.
The Togo-headquartered bank was busy over the past year. In June and July 2021, it organized, in alliance with the African Union Development Agency, a ‘training for financing’ programme targeting micro-sized enterprises in eight markets including Niger, Rwanda and Chad. Around 3,000 micro, small and medium-sized enterprises completed four modules and 15 training sessions, covering topics ranging from risk management to business compliance and leadership. All graduating businesses got the opportunity to apply for financing in the form of working-capital support.
Ecobank is working with leading multilaterals. In November 2021, it secured a €100 million nine-year credit facility from the European Investment Bank to financially support African businesses in sectors hardest hit by the pandemic.