Ecobank Zambia Launches Ellevate 2.0 to Boost Women-led SMEs
Ecobank Zambia has unveiled Ellevate 2.0, a bold, expanded initiative aimed at empowering women-led small and medium-sized enterprises (SMEs) with customized financial and non-financial support. Building on the success of the original Ellevate programme, which empowered over 883 businesses and unlocked over US$3 million in financing, Ellevate 2.0 introduces a broader and more inclusive model.
Designed specifically for female entrepreneurs navigating the early-growth phase, Ellevate 2.0 offers unsecured loans of up to US$50,000, lower collateral requirements, and preferential interest rates. It lowers the eligibility threshold to just two years of business operation, welcoming emerging entrepreneurs across sectors, from Lusaka’s bustling markets to tech startups across Zambia.
“This is not just a financial product,” said Glenda Masebe-Kamalata, Head of Marketing & Brand Communications at Ecobank Zambia. “Ellevate 2.0 is a powerful reaffirmation of belief in the resilience, ambition, and impact of women entrepreneurs. We’re not just backing businesses, we’re backing futures.”
The initiative includes access to MyTradeHub, Ecobank’s digital platform that connects SMEs to pan-African markets, enabling cross-border growth. Participants also benefit from capacity-building opportunities such as mentorship, practical training, expert-led webinars, and business management support.
In addition to core banking services, Ellevate 2.0 integrates wealth management and insurance products, creating a full-spectrum support system designed to protect and grow women-led businesses.
Ellevate 2.0 is rooted in the principle of banking as partnership. “We’ve shifted from rigid structures to a relationship-driven model built on trust and long-term empowerment,” said Masebe-Kamalata. “By placing women at the center, we’re not only creating inclusive prosperity, we’re fueling Zambia’s economic backbone.”
Ecobank Zambia is calling on aspiring entrepreneurs, development partners, and stakeholders to join in supporting the growth of women-led enterprises.
