Ecobank Malawi Moves to Empower Women Businesses

Ecobank Malawi Board Director Joanna Nkhoma; the bank is dedicated to fostering gender diversity and inclusivity within the workplace Ecobank Malawi Board Director Joanna Nkhoma; the bank is dedicated to fostering gender diversity and inclusivity within the workplace

Ecobank Malawi has emphasized on the need for financial institutions to provide tailor-made products for women in business, saying such deliberate measures are critical to ensuring a level playing field in male-dominated sectors, including entrepreneurship.

George Phuza, Head of Commercial Banking at Ecobank Malawi, told Zodiak in an interview in Lilongwe that women need not just adequate information but support as well to ensure their businesses grow to international standards.

He said, as such, the bank has introduced Single Market Trade Hub and Ellevate banking programs to drive economic empowerment for women.

"The Single Market Trade Hub and Ellevate banking programs play a pivotal role in providing women entrepreneurs with the resources, support and opportunities they need to succeed in today's competitive business landscape," said Phuza.

To coincide with International Women's Day, on March 8, 2024, Ecobank Malawi hosted an Ellevate Women Business Breakfast in Lilongwe, themed ‘A Better Way to Accelerate Inclusion’, as part of its commitment to supporting and empowering women entrepreneurs in Malawi.

Women entrepreneurs who gathered at the event shared experiences and insights on building sustainable businesses.

Motivational speaker and business lady Ngabaghila Chatata, proprietor and managing director of Thanthwe Farms said resilience, innovation and strategic planning are key to undertaking successful businesses among women.

"To build a sustainable business, women must dare to dream big, embrace challenges as opportunities, and never underestimate the power of perseverance," she told the gathering.

In her speech, Ecobank Malawi Board Director Joanna Nkhoma said the bank is dedicated to fostering gender diversity and inclusivity within the workplace, saying the presence of women in senior positions is crucial to the development of women.

Nkhoma said Ecobank's focus on women empowerment goes beyond the workplace to incorporate tailor-made services, such as the Ellevate program, which she said provides women entrepreneurs with tools, resources and support to thrive in their businesses.

The Ellevate program provides women entrepreneurs with access to dedicated banking services, including free digital tools and flexible loans, to support their business growth. On the other hand, the Single Market Trade Hub, is a platform designed to help women entrepreneurs capitalize on the opportunities presented by the unified African market, facilitated by the African Continental Free Trade Area (AfCFTA) initiative.

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Last modified on Friday, 08/03/2024

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