In a testament to its dedication to supporting small and medium-sized enterprises (SMEs) across the continent, Ecobank Group has been honored with the prestigious Best Bank for SMEs in Africa 2024 award by Global Finance. The recognition underscores Ecobank’s commitment to addressing the unique needs of SMEs in its diverse markets.

The award ceremony, hosted by Global Finance, took place on February 20, 2024, at Glaziers Hall in London, UK. Ecobank’s Acting Group Executive for Commercial Banking, Carol Oyedeji, expressed pride in the achievement, emphasizing the importance of supporting SMEs in seizing opportunities presented by the African Continental Free Trade Area (AfCFTA).

Notably, Ecobank Nigeria, a key affiliate, also secured recognition by winning the title of Best FX Bank in Nigeria under the Country & Territory Awards category. Global Finance based its decision on various factors, including transaction volume, market share, breadth of offerings, and global coverage. The criteria also considered subjective elements such as reputation, thought leadership, customer service, and technology innovation.

Ecobank’s recent initiatives, such as a US$200 million risk-sharing agreement with the African Guarantee Fund and a US$32.8 million loan facility from eco.business Fund and the SANAD Fund for SMEs, showcase the institution’s commitment to expanding lending capacity for SMEs.

Global Finance selected the winners based on entries submitted by banks and independent research, incorporating insights from industry insiders, executives, and technology experts. This recognition follows Ecobank’s previous success, including being named Africa’s Best Bank for SMEs in Euromoney’s Awards for Excellence 2023. Ecobank continues to build on its reputation as a leading financial institution dedicated to supporting SMEs across Africa.