PRODUCT REVIEW: 10 facts and figures every woman in business should know about how to thrive with the Ellevate Women Empowerment Programme by Ecobank On 07th March 2022, Ecobank Uganda, part of Ecobank Transnational Inc, the leading pan-African bank, relaunched its Ellevate Women Empowerment Programme, which facilitates women-owned and or women-run businesses with a variety of products, services, tools and skills to thrive and prosper in business. To leverage these unique advantages, which also include FREE banking, one simply has to open an Ellevate Account and make a deposit. Here below, we bring you a recap of the 10 key facts and figures about Ecobank’s Ellevate Women Empowerment Programme that every woman in business and or who wants to engage in business should know.

What is Ellevate?

Ellevate is an innovative banking solutions tool that helps businesses owned and managed by women, businesses with a high percentage of female board members or employees, and companies manufacturing products for women. This is achieved through several different financial tools that assist in cash management and collections, special liability loans and asset financing, support and development.

Who is Eligible?

• Businesses owned by women
• Businesses with at least 30% of female board members or employees.
• Business manufacturing products for women.

How does someone get in?

Open and deposit on an Ellevate account for your business at any Ecobank branch countrywide or visit http://www.ecobank.com/ellevate

What does the Ellevate account offer its holders?

The Ellevate account offers speciality tools for business success like

• Cash Management and Collections with a business current account, Omni Lite Online Banking, Ecobank Digital Payments, Smarter POS Solutions.
• Savings and Investments, Receivables Financing, Liabilities and Loans and Support and Development with Business and Leadership training, Online promotion via Google My Business and Networking.
• Discounted lending rates.

How much loan financing is available for Ellevate Account holders? 

Ellevate offers up to $50,000 loan (UGX180,550,000 (1USD = UGX3,611)), currently the biggest in any Women In Business program in Uganda.

What security do you need to get the loan?

The Ellevate loan can either be gotten by offering an asset (land and property) as security or out of the deposits/savings/investments with the bank.

What documents do you need to join Ellevate?

• Identification documents for the Business Directors
• Company Registration Certificate /Proof of the company’s existence
• Other company/business documents.
• Signed account opening forms

Can individuals join the Ellevate Women Empowerment Programme? 

Ellevate is for business owners – any business category. ; Yes as an individual running a business in your own names.

Are there any savings products for Ellevate Members? 

With the Business Savings account, Reward Saver Account, Call Deposit or Fixed Interest, you get to enjoy favourable interest rates with Ecobank. Through our treasury department; we offer better savings/investments rates for Ellevate clients.

Can Ellevate members use their savings to access credit facilities?

Yes, with any of the Business Account options deposits/savings, you can secure yourself credit.

Out of your monthly deposits, we can offer up to 50% of your average monthly deposits as an advance to the business repayable at the end of the month to bridge cashflow gaps.