The Enhanced Ellevate programme by Ecobank and its economic impact supplemented by insight from Sheikh Omaru Jalloh, Head of Brand, Communications, and Marketing Ecobank Sierra Leone:
WHAT ENHANCED ELLEVATE DOESN’T JUST DO
- Unsecured loans of up to USD 50,000 without demanding heavy collateral inclusive of businesses with only a two-year track record (instead of the usual three) .
- Access to competitive interest rates, customised wealth & insurance packages, and a loyalty programme offering special retail and recreation discounts.
- Incorporates financial (both Consumer & Corporate) and non-financial support from networking via Ecobank’s MyTradeHub, capacity‑building webinars and business skills training, to mentorship by established professionals.
- Pan-African scaling: launched early 2025 in nine markets, with a phased rollout planned across all Sub‑Saharan branches including Sierra Leone.
ECONOMIC IMPACT ON SIERRA LEONE’S WOMEN ENTREPRENEURS
According to Sheikh Omaru Jalloh, since Ecobank Sierra Leone began applying the Ellevate model:
- “We’ve seen a remarkable increase in loan uptake” among women-led MSMEs, many of whom previously couldn’t qualify under stricter collateral or vintage requirements.
- By offering risk-relieved unsecured loans, the programme has directly improved capital access, enabling women to scale production, expand market reach, and formalise operations.
- Through MyTradeHub, local entrepreneurs now connect with regional buyers, translating to a tangible increase in cross-border trade and exports.
- The non-financial support—trainings, leadership coaching, and mentorship has uplifted confidence and business acumen, resulting in an estimated 20–30% increase in business survival and growth rates.
- On a macroeconomic level, these developments are contributing to women’s empowerment, job creation, and inclusive growth supporting the country’s broader economic recovery and diversification.
BREAKDOWN OF THE ENHANCED ELLEVATE PROGRAMME
Feature Details
- Max Loan Up to USD 50,000, unsecured
- Track Record Eligibility at 2 years
- Interest & Collateral Competitive rates, reduced collateral
- Financial Services Wealth management, insurance
- Market Access MyTradeHub for African B2B matchmaking
- Capacity Building Webinars, training, mentoring
- Mentorship Corporate-level female leaders
- Loyalty & Perks Discounts at retail & recreation outlets
WHY THIS MATTERS IN SIERRA LEONE
- Capital gap closed: Many women can now access finance without physical guarantees or deep credit history.
- Professionalization: Practical training and mentoring elevate business models beyond the informal sector.
- Market expansion: Platforms like MyTradeHub connect Sierra Leonean entrepreneurs to continental markets.
- Economic empowerment: By targeting women-led firms, the programme fosters equitable wealth creation and diversification – key for national resilience.
Sheikh Omaru Jalloh’s Perspective
“Enhanced Ellevate is redefining how women in Sierra Leone view banking. By removing collateral barriers and pairing flexible finance with mentorship and market connecting tools, we’ve made business dreams attainable, and the early success stories speak volumes.”
The Enhanced Ellevate programme, now under implementation at Ecobank Sierra Leone, is delivering a transformational boost: enabling women entrepreneurs to access essential capital, build capacity, expand markets, and ultimately contribute more fully to national economic growth. Its synergy of finance, training, and networking marks a tangible stride toward inclusive development.
