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Ecobank earmarks N100b special fund for MSMEs.

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Ecobank Nigeria has voted N100 billion special fund targeted at empowering Micro, Small and Medium Enterprises (MSMEs) and agriculture sectors.

The bank recognises MSMEs as the engine room of the economy, and has won several awards in these sectors.

For the agric sector, the bank has provided economic empowerment for more than 53,000 small holder farmers through the Anchor Borrowers Programme partnership with the Central Bank of Nigeria (CBN) with about N9.5 billion.

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The bank has increased the number of Agric sector’s customer with over 900 per cent from about 14,000 to over 143,000 customers. Ecobank is currently in partnership with Lagos State Ministry of Agric in an empowerment programme to support over 3,000 artisanal fishermen in the state.

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Ecobank is regarded in the industry as ‘women-friendly bank’. This stems from its various products tailored towards empowering the female folks. Last July, the Ecobank Group launched “Ellevate”, a bespoke women empowerment proposition – and this had  a resounding acclaim in Nigeria. With the Elevate programme, Ecobank aims to empower 40 million women, being a gender-based proposition designed to empower women-owned and managed businesses in Nigeria, as well as in the 33 African countries and beyond where Ecobank has presence”.

Source: thenationonlineng

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