Ecobank Côte d’Ivoire Launches West Africa’s First Gender Bond to Accelerate Financial Inclusion for Women Entrepreneurs
Ecobank Côte D’Ivoire, a subsidiary of Ecobank trransnational Incorporated (www.ecobank.com), the leading pan-African bank, has taken an important step towards financial inclusion through its first gender bond launch in West Africa. The groundbreaking bond issuance amounts to 10 billion, aiming to mobilize funds from women-owned and women-led businesses, reduce financing inequality and promote inclusive economic growth.
name “11 Gender Bonds 6.5% 2024-2029”,” This bond has been EDC Investment Company (EIC)Ecobank’s brokerage and asset management subsidiary. It marks that after Ecobank’s first fundraising in 2013, gender bonds have received an independent second opinion on Morningstar Sustainability, ensuring compliance with global best practices for responsible investments around the world.
Since its inception, the Ellever program has had a tangible impact on women’s entrepreneurship. In 2024, more than 3,465 companies were registered, benefiting from a loan of 13.25 billion XOF. However, access to financing remains a major challenge for women entrepreneurs in West Africa, where less than 20% of female small and medium-sized businesses can get enough funds. Globally, gender bonds account for only $14.5 billion, accounting for only 1.5% of the sustainable bond market in 2023, highlighting the need to expand such initiatives.
according to Paul-Harry Aithnard, Managing Director of Ecobankcôted’Ivoire, Financial inclusion for women 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, but they are still underfunded. Through this offering, we reaffirm our commitment to an ecosystem where women have full access to the financial resources they need to grow and succeed. It is a powerful tool to change access to financing and to accelerate the growth of women’s businesses sustainably.”
this “11 Gender Bonds 6.5% 2024-2029” Provides investors and the public with unique opportunities to combine profitability with social impact. The five-year bond offers an attractive annual interest rate of 6.5% over a two-year capital repayment grace period. The total issuance of XOF consists of 1 million securities with a nominal value of XOF 10,000.
All funds raised will be fully allocated to strengthen the Ellever program, the women-led financing program, and provide them with tailor-made financial and technical support. Roseline Abé, CEO of EDC Investments, Highlight the importance of the program: “We have established the attractiveness of this bond to investors while having 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, Ecobankcôted’Ivoire consolidates its leadership in sustainable finance and paves the way for greater economic inclusion. The bank’s ambitions go beyond this issuance as it envisions a long-term strategy to promote innovative and inclusive financial instruments.
Paul-Harry Aithnard Summarize: “This is 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 program, Ecobankcôte de’Ivoire is changing financial opportunities and reaffirming its commitment to inclusion and sustainability.
Distributed by Apo Group on behalf of Ecoband trransnational Incorporated.
Media Contact:Cynthia KoidioCorporate Communications ManagerEcobank Ivory Coaste-mail: ckoidio@ecobank.comTel: +2250787733729
About Ecobankcôtel’Ivoire:Ecobank Côte D’Ivoire is a subsidiary of the Ecobank Group, a leading independent pan-African banking group with its parent company Ecobank threntantional Incorporated (ETI).
Ecobank Group employs more than 13,000 professionals to serve approximately 32 million customers in the retail, commercial and corporate banking sectors in 33 African countries. The organization also has a bank license in France and maintains the office of representatives in Addis Ababa (Ethiopia), Johannesburg (South Africa), North Africa (China), London (UK) and Dubai (United Arab Emirates). Ecobank offers a comprehensive range of banking products, services and solutions including deposit accounts, cash management, consulting services, trading, securities brokerage and wealth management. ETI is listed on several stock exchanges, including the Nigerian Stock Exchange (Lagos), the Ghana Stock Exchange (ACCRA) and the Bourse Régionale Des Valeurs Mobilières (Abidjan).
For more information, please visit www.ecobank.com.
