Ecobank Group has secured the prestigious Best Bank for SMEs in Africa 2024 award at Global Finance’s annual SME Bank Awards, reaffirming its dedication to serving the unique needs of SMEs across its diverse markets. The award ceremony took place recently at Glaziers Hall in London, UK.
Carol Oyedeji, Acting Group Executive of Ecobank Commercial Banking, expressed gratitude for the recognition, highlighting Ecobank’s robust support for Africa’s small and medium-sized enterprises (SMEs). This support includes a comprehensive range of banking, payments, collection, and financing solutions, along with non-financial assistance such as business leadership and skills training. Additionally, Ecobank offers an innovative matchmaking platform connecting traders, buyers, sellers, and suppliers across Africa.
Despite challenges like volatile foreign exchange (FX) rates, Ecobank Nigeria has demonstrated transparency, maintaining high transaction volumes and retaining its market share in the country.
In recent months, Ecobank has bolstered its lending capacity to address SMEs’ financing needs through strategic initiatives. These include a $200 million risk-sharing agreement with the African Guarantee Fund and a US$32.8 million loan facility from eco.business Fund and the SANAD Fund for SMEs.
