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Josephine Anan-Ankomah,Managing Director of Ecobank Kenya and Regional Executive for Central, Eastern, and Southern Africa (CESA)
Kenya’s Ecobank has strengthened its financial base with a KSh. 3.5 billion(USD 27 million) capital boost, bringing its total capital to KSh. 8.5 billion (USD 65 million).
This indicates its commitment to driving business growth not just in Kenya, but throughout the East African region, as it gears up to meet the central bank’s capital requirements of Sh 10 billion set for 2029.
The additional capital will help key economic drivers, including regional businesses, SMEs, FinTech’s, and women-led enterprises.
In addition, it will also enhance the bank’s presence in high-impact sectors such as agriculture, manufacturing, ICT & innovation, payments & remittances, and tourism & hospitality.
Jeremy Awori, Group CEO of Ecobank Transnational Incorporated, said that Kenya is a strategic market for the Ecobank Group and a key economic hub driving growth across East Africa.
“This capital reinforcement supports Ecobank Kenya’s ability to seize new business opportunities and deliver long-term value for stakeholders-all in alignment with our Growth, Transformation, and Returns (GTR) strategy,” Awori said.
Ecobank Kenya aims to empower emerging industries like green energy, transport and logistics, healthcare, and retail & trade, focusing on sustainable development in Kenya and East Africa.
Josephine Anan-Ankomah, Managing Director of Ecobank Kenya and Regional Executive for Central, Eastern, and Southern Africa (CESA), noted that the capital reinforcement strengthens their ability to serve as the financial partner of choice for international organizations, regional businesses, SMEs, FinTech’s, and women-led enterprises.
“This will cement our leadership in regional trade and payments across Central, Eastern, and Southern Africa,” she noted adding that they will laverage their pan- African payment platform to accelerate innovation and position them as the partner of choice for Fintech and cross- border payments.
“Beyond financing, our focus is on providing businesses with the capital and expertise they need to scale, create jobs, and drive sustainable economic transformation,” she emphasized.
Reaffirming the bank’s strong commitment to financial inclusion, Ankomah announced the launch of the enhanced Ellevate by Ecobank in Kenya, designed to provide financial and non-financial support to a broader range of women entrepreneurs, including those in the informal sector.
With the additional capital injection,Ecobank Kenya is strengthening its capacity to provide greater financing and support to more women entrepreneurs, further driving economic growth and sustainability.
Since its launch in Kenya, the Elevate by Ecobank programme has onboarded over 2,000 women entrepreneurs and provided capacity-building to over 5,000 women nationwide.
