MICROFINANCE AND POVERTY ALLEVIATION

Ecobank is committed to providing the underbanked and the unbanked poor with access to finance.

We, along with other stakeholders launched one of the biggest microfinance banks in Nigeria in 2007. We also obtained a license to operate in Ghana. In 2008 we plan to further expand the network to Senegal, Benin and Cameroon. Ecobank and its partner ACCION, a global leader in microfinance have an aggressive plan to launch microfinance operations in 20 countries in the next 5 years.

To complement the direct approach Ecobank also acts as the bankers to microfinance institutions in the countries in which we operate. We presently support over 200 microfinance institutions with wholesale loans and other products.

We believe the prospects remain very bright for the microfinance sector which is arguably as large as or even larger than the traditional banking sector.