In a bold step to increase the economic influence of women entrepreneurs, ECOWAS and Ecobank Plc have introduced a six-month training program tailored to equip women-led businesses in West Africa with essential skills for growth, especially within the African Continental Free Trade Area (AfCFTA).
Milestone for Women in West African Trade
During the launch event in Abuja, ECOWAS Commission President Dr. Omar Touray, represented by Mrs. Massandjé Toure-Litse, ECOWAS Commissioner for Economic Affairs and Agriculture, highlighted the critical contributions of Nigeria and Ecobank to the regional integration process. He praised Ecobank for actively supporting economic opportunities for women traders. Mrs. Toure-Litse emphasized that Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in West Africa’s economy, with women-led businesses in Small Scale Cross-Border Trade (SSCBT) facing significant challenges in financing and market expansion.
This ECOWAS–Ecobank initiative, aligned with ECOWAS Vision 2050, aims to advance economic inclusivity and financial literacy for women entrepreneurs through training, mentorship, and specialized financial services. In conjunction with the ECOWAS Trade and Gender Action Plan and the ECOWAS E-Commerce Strategy, the program also promotes knowledge sharing and skill development, fostering growth for women-led enterprises across West Africa.
Initially targeting Nigerian women entrepreneurs, this pilot program will expand to other ECOWAS member states, benefiting approximately 800 women region-wide. Participants will gain skills essential for effective participation in regional trade. Through Ecobank’s ELLEVATE Program and Single Market Trade Hub, participants can access customized financial products, digital tools, and strategic guidance on cross-border trade, enabling them to compete in wider markets.
To further support these women entrepreneurs, ECOWAS is working with agencies such as the Nigerian Export Promotion Council (NEPC) and the Nigerian Export-Import Bank. These partnerships will provide guidance on essential topics, including good agricultural practices, packaging, and export documentation, ensuring participants meet market standards. The Nigeria Customs Service has also provided training on export procedures to streamline cross-border transactions for program participants.
Long-Term Goals for Women Entrepreneurs in Africa
ECOWAS Director of Trade, Mr. Kolawole Sofola, shared that the program aims to create jobs and promote sustainable growth by building women’s business knowledge and skills. Ecobank’s Divisional Head, Mr. Tunde Dawodu, echoed this sentiment, emphasizing Ecobank’s dedication to helping women entrepreneurs expand their market reach and compete effectively.
Mr. Tony Elumelu, ECOWAS Director of Investment, noted that the program will leverage AfCFTA opportunities, empowering women traders to reach new markets and scale their businesses. Through the pilot phase in Nigeria, ECOWAS and Ecobank aim to pave the way for a broader rollout, underscoring a lasting commitment to advancing women’s role in trade and economic development across West Africa.
With the ECOWAS-Ecobank partnership, women-led businesses are set to gain valuable tools for expansion, positioning them to play a pivotal role in regional economic growth and resilience.
