This five-year bond provides an attractive annual interest rate of 6.5% with a two-year capital repayment grace period.
Ecobank Côte d’Ivoire, a subsidiary of Ecobank Transnational Incorporated (www.Ecobank.com), the leading Pan African Bank, takes a major step forward in its commitment to financial inclusion with the launch of the first Gender Bond in West Africa. This groundbreaking bond issuance, amounting to XOF 10 billion, aims to mobilize funding for women-owned and women-led businesses, reducing financing inequalities and fostering inclusive economic growth.
Named “Ellever Gender Bond 6.5% 2024-2029,” this bond has been structured and arranged by EDC Investissement Corporation (EIC), Ecobank’s Brokerage and Asset Management subsidiary. It marks Ecobank Côte d’Ivoire’s second bond issuance after its initial fundraising in 2013. Aligned with international sustainable finance standards, the Gender Bond has received an independent second-party opinion from Morningstar Sustainalytics, ensuring compliance with global best practices in responsible investment.
Since its inception, the ELLEVER program has made a tangible impact on women entrepreneurship. In 2024, over 3,465 businesses registered, benefiting from XOF 13.25 billion in disbursed loans. However, access to financing remains a significant challenge for women entrepreneurs in West Africa, where less than 20% of women-led SMEs have access to adequate funding. Globally, Gender Bonds represented only USD 14.5 billion, accounting for just 1.5% of the sustainable bond market in 2023, underscoring the need to expand such initiatives.
According to Paul-Harry Aithnard, Managing Director of Ecobank Côte d’Ivoire, women’s financial inclusion is a major economic priority. “This Gender Bond provides a tangible solution to the challenges faced by women entrepreneurs in West Africa. Today, women-led businesses are recognized for their resilience and performance, yet they remain significantly underfunded. Through this issuance, we reaffirm our commitment to building an ecosystem where women have full access to the financial resources they need to grow and succeed. This is a powerful tool to transform access to financing and sustainably accelerate the growth of women-led businesses.”
The “Ellever Gender Bond 6.5% 2024-2029” offers investors and the public a unique opportunity to combine profitability with social impact. This five-year bond provides an attractive annual interest rate of 6.5% with a two-year capital repayment grace period. The total issuance of XOF 10 billion consists of one million securities with a nominal value of XOF 10,000 each.
All funds raised will be fully allocated to strengthening the ELLEVER program, financing initiatives led by women, and providing them with tailored financial and technical support. Roseline Abé, Chief Executive Officer of EDC Investissement Corporation, highlights the significance of this initiative: “We have structured this bond to be attractive to investors while delivering a strong impact on women’s empowerment in Côte d’Ivoire. This is a unique opportunity to combine financial performance with social inclusion.”
With this Gender Bond, Ecobank Côte d’Ivoire cements its leadership in sustainable finance and paves the way for greater economic inclusion. The bank’s ambition goes beyond this issuance, as it envisions a long-term strategy to promote innovative and inclusive financial instruments.
Paul-Harry Aithnard concludes: “This issuance is just the beginning. We will continue to develop tailored solutions to enhance women’s participation in the economy and encourage other financial institutions to follow this path.”
Through this initiative, Ecobank Côte d’Ivoire is transforming access to finance and reaffirming its commitment to inclusive and sustainable development.
About Ecobank Côte d’Ivoire:
Ecobank Côte d’Ivoire is a subsidiary of the Ecobank Group, the leading independent pan-African banking group, whose parent company is Ecobank Transnational Incorporated (ETI).
The Ecobank Group employs over 13,000 professionals, serving approximately 32 million customers across retail, commercial, and corporate banking sectors in 33 African countries. The Group also holds a banking license in France and maintains representative offices in Addis Ababa (Ethiopia), Johannesburg (South Africa), Beijing (China), London (United Kingdom), and Dubai (United Arab Emirates). Ecobank offers a comprehensive range of banking products, services, and solutions, including deposit accounts, cash management, advisory services, trading, securities brokerage, and wealth management. ETI is listed on multiple stock exchanges, including the Nigerian Stock Exchange (Lagos), the Ghana Stock Exchange (Accra), and the Bourse Régionale des Valeurs Mobilières (Abidjan).
For more information, visit www.Ecobank.com.
*Source Ecobank Transnational Incorporated
