Ecobank Offers Loans to Female Entrepreneurs at 1% Interest Rate

By Adedapo Adesanya

Ecobank Nigeria has unveiled a special loan package for as low as one per cent for women entrepreneurs in the country.

The new product is called the Ecobank Female Entrepreneurs’ Initiative (EFEI) loan and is specially designed by the bank to financially empower female business owners and entrepreneurs in the country.

According to Head, Consumer Asset Product, Ecobank Group, Mrs Daberechi Effiong, the EFEI loan as conceived by the bank, is targeted at boosting small scale businesses owned by women.

She added that it is a further demonstration of the importance the bank attaches to the role of women in sustainable development and contribution to the nation’s economy.

Mrs Effiong, who is also the EFEI Coordinator, explained that prospective female business owners could access credit with interest rates as low as 1 per cent, noting that the process for accessing the credit facility was easy and stress-free.

“The EFEI loan is one of our several ways of further encouraging female entrepreneurs in the country. As a bank, we believe empowering women will enable them to play their role better in society and the economy.

“This loan would position them for increased participation, validation and contribution to their communities.

“The terms and conditions for accessing the loan are simple and easy such that many female entrepreneurs could readily avail themselves of the opportunity and grow their business,” she added.

She advised the women business owners to approach the bank online through our social media platforms or send a mail to [email protected] for the loan to boost their business, assuring them of Ecobank’s support and assistance in growing their business.

The EFEI was introduced by the bank to assist women business owners.

Earlier in the year, Ecobank trained over 140 female business owners through the EFEI platform on digital marketing skills in its state-of-the-art Academy.

This was a follow up to a two-day capacity building on cash flow management and EFEI business opportunities held last year.