Ecobank and Proparco Deepen Partnership to Unlock €300 Million for African Agriculture and Women Entrepreneurs

This significant partnership between Ecobank Group and Proparco, announced at the Africa Forward Summit in Nairobi, signals a robust commitment to bolstering Africa's economic backbone: its agricultural sector and the vital role of women entrepreneurs.

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Africa’s growth requires execution at scale. Through this expanded partnership with Proparco, we are mobilising €300 million and directing it into agricultural value chains and women-led businesses supported by our Ellevate programme.

From a Ghanaian perspective, and indeed across the continent, the focus on agricultural value chains and women-led businesses is particularly resonant. Agriculture remains a cornerstone of many African economies, providing livelihoods for a substantial portion of the population. However, it has historically suffered from underfunding and faces increasing pressures from climate change, geopolitical tensions, and rising costs, as noted in the press release.

Ecobank's CEO, Jeremy Awori, rightly emphasizes that "Africa's growth requires execution at scale." This €300 million commitment is not just a financial transaction; it's a strategic investment aimed at unlocking the continent's potential. The inclusion of Ecobank's Ellevate program specifically targets women entrepreneurs, recognizing their critical contribution to economic development and their frequent struggle to access adequate financing.

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Agriculture is central to Africa’s future but one of its most underfinanced sectors.

Françoise Lombard of Proparco highlights agriculture as central to Africa's future and acknowledges it as one of its most underfinanced sectors. This collaboration, therefore, is timely and essential. By providing financial instruments like partial portfolio guarantees and co-financing, Proparco is enabling Ecobank to extend much-needed credit to agricultural SMEs and agro-industrial companies. This initiative directly addresses the financing gaps that have hampered growth and resilience in the sector, ultimately contributing to food security and reducing inequalities.

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The agreement will support large-scale solutions aimed at strengthening food security, improving resilience, and reducing inequalities, including gender inequalities.