ECOBANK WINS EUROMONEY AWARD AS AFRICA’S BEST BANK FOR SMES

Ecobank has been named Africa’s Best Bank for SMEs (small and medium-sized enterprises) at Euromoney Awards for Excellence for the second year running, having also won the award in 2022.

Jeremy Awori, the CEO of Ecobank Group, expressed that the award received by Ecobank demonstrates their unwavering dedication to supporting African SMEs and their continuous effort to introduce innovative financial and non-financial solutions that foster their growth and achievements. Ecobank aspires to become the preferred banking partner for SMEs in Africa, acknowledging their pivotal role in driving economic growth, creating employment opportunities, and eradicating poverty throughout the continent.

Over the past year, Ecobank has introduced several significant initiatives to benefit SMEs, including:

1. The Ecobank Single Market Trade Hub, designed to support the single African market of the AfCFTA. This hub serves as a comprehensive platform providing information about the AfCFTA, granting access to Ecobank’s full range of trade facilitation solutions (encompassing trade finance, advisory services, payments, and collections), and acting as a marketplace for products, services, and businesses across Africa.
2. RapidCollect, a solution enabling Ecobank’s business clients to receive payments from their customers in their home countries and throughout Ecobank’s network of 33 affiliates. This service ensures instant and cost-effective cross-border transactions compared to other available alternatives.
3. The collaboration with Mastercard Farm Pass, a digital platform that streamlines and enhances the agricultural value chain for smallholder farmers. By digitizing this process, Ecobank simplifies and secures the farmers’ ability to obtain fair prices for their produce.
4. The Ellevate Equip Leadership Programme, specifically designed for women-led or women-focused businesses. This program offers modules on various topics, including emotional intelligence, authentic leadership, strategic leadership, influence mastery, decision-making, and effective negotiation.
5. The Financial Literacy Series, aimed at equipping SME managers and owners with essential financial education. The series commenced with the topic of “Preparing SMEs for the Capital Markets” and attracted nearly 3,500 registered participants.

The judges’ selection of Ecobank as Africa’s Best Bank for SMEs was based on their extensive track record and unwavering commitment to fulfilling the needs of SMEs.