Ecobank Malawi’s Managing Director, Dr. Raymond Fordwuo and UN Women Country Representative, Letty Chiwara after signing the MoU
* To advance women’s economic empowerment, financial inclusion and business growth
* Today’s relaunch represents an important milestone in our journey to support women with more than just banking solutions
By Duncan Mlanjira
Ecobank Malawi has relaunched its award-winning ‘Ellevate’ business programme by signing a strategic partnership with United Nations (UN) Women to advance women’s economic empowerment, financial inclusion and business growth.
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The partnership’s memorandum of understanding (MoU) was signed in Lilongwe at Bingu International Convention Centre (BICC) graced by United Nations Resident Coordinator, Rebecca Adda-Dontoh.
The two parties unveiled that the enhanced ‘Ellevate’ programme — originally launched to address barriers faced by women in business — “is now bigger, better, and more inclusive.”
It is now expand beyond women-owned, women-led, and women-focused businesses, to also support ambitious women entrepreneurs, professionals, executives and leaders through greater access to capital, capacity building and markets.
“‘Ellevate’ continues to respond to a significant market need,” says the bank in a statement. “Across Africa, women entrepreneurs face an estimated US$42 billion financing gap, while Ecobank has already supported more than 110,000 women-owned businesses with over US$800 million in lending in 2025 alone across its African network.”
Thus the strategic partnership between Ecobank Malawi and UN Women is aimed at accelerating women’s economic empowerment through increased financial inclusion, entrepreneurship development, financial and digital literacy, leadership development, market access, advocacy, and support for women-led enterprises and cooperatives across Malawi.
Ecobank Malawi’s Head of Customer Segments, Tisaiwale Nkhomba said the enhanced ‘Ellevate’ programme and partnership with UN Women reflect the bank’s long-term commitment to creating meaningful opportunities for women.
“Today’s relaunch represents an important milestone in our journey to support women with more than just banking solutions,” said Nkhomba at the event, held through an exclusive dinner held at the BICC attended by various women business leaders, professionals, entrepreneurs and development partners.
“Through ‘Ellevate’, we are providing access to capital, capacity building, and markets while creating opportunities for women to grow their businesses, strengthen their leadership capabilities and expand their impact.
“Our partnership with UN Women further strengthens this commitment and provides a platform for greater collaboration in advancing women’s economic empowerment across Malawi.”
Nkhomba added that Ecobank’s pan-African footprint and innovative MyTradeHub platform, position the bank to connect women entrepreneurs and business leaders to opportunities beyond Malawi’s borders.
On his part, Ecobank Malawi’s Managing Director, Dr. Raymond Fordwuo, emphasised that advancing women’s economic empowerment requires collective action from both women and men: “Women’s success is not a women’s issue alone — it is an economic imperative and a shared responsibility.
“As men, we must be active allies in creating opportunities that enable women to thrive as leaders, entrepreneurs, and drivers of economic growth,” he said.
The MoU spells out that under the enhanced ‘Ellevate’ proposition, eligible customers can access financing solutions of up to US$50,000 with no tangible collateral, alongside business development support, networking opportunities, leadership programmes, and access to new markets through Ecobank’s extensive African network.
UN Resident Coordinator, Adda-Dontoh
The UN Resident Coordinator, Adda-Dontoh, commended Ecobank Malawi for its commitment to creating opportunities for women, saying: “Women’s economic empowerment remains one of the most powerful drivers of inclusive and sustainable development.
“Initiatives such as ‘Ellevate’ demonstrate how the private sector can play a transformative role in expanding access to finance, strengthening women’s leadership, and creating pathways to new economic opportunities.
“We commend Ecobank Malawi for its continued commitment to investing in women and supporting their participation in local, regional, and global markets.”
UN Women Country Representative, Letty Chiwara emphasised that the partnership “demonstrates the power of private sector collaboration in advancing the Women’s Empowerment Principles and building an inclusive economy where no woman is left behind”.
“This partnership reflects our shared commitment to supporting MW2063 vision and the Sustainable Development Goals by expanding opportunities for women’s economic empowerment, strengthening their leadership and resilience, and enhancing their participation in local, regional, and global markets.
“Together, we are investing in a future where women can thrive as entrepreneurs, leaders, and drivers of sustainable development,” she said.
Ecobank maintains that the ‘Ellevate’ relaunch of and the partnership with UN women reaffirms the bank’s “commitment to supporting women as drivers of economic growth, innovation, and sustainable development”.
Ecobank Malawi is a subsidiary of Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, which is headquartered in Lomé, Togo — operating in 34 countries in Africa and maintains representative offices and international operations across key global markets.
Ecobank Malawi commenced operations in 2008 and serves customers through its commercial & consumer banking and corporate & investment banking divisions — delivering innovative financial solutions that promote financial inclusion, economic growth, and sustainable development across Malawi through over eight branches, 26 ATMs, and 194 Xpress Point agencies.
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