Ecobank Zambia targets SME growth through access to African markets

Fabian Nyalazi, Head of SME Banking at Ecobank Zambia, said SMEs were the engine of Zambia’s economy and their success was fundamental to the country’s growth.

“Ecobank is committed to providing more than financing. The bank is creating opportunities for businesses to scale, trade and compete at regional and continental levels,” Nyalazi said.

Chaane Singogo, Relationship Officer for Ellevate at Ecobank Zambia, said women entrepreneurs continued to play a vital role in driving Zambia’s economic growth but many still faced barriers to accessing finance and business opportunities.

Singogo said through Ellevate, its flagship proposition for women-led and women-focused businesses, Ecobank offered tailored financial solutions, preferential lending conditions, capacity building and access to networks.

The initiative was aimed at helping women entrepreneurs build resilience and scale their operations, she said.

Komani Lungu, Relationship Manager for Trade Finance at Ecobank Zambia, said many Zambian businesses had competitive products and services but often faced challenges entering new markets because of financing constraints and trade-related risks.

“Ecobank trade finance solutions and the Ecobank Single Market Trade Hub are helping businesses connect with partners across Africa. Our pan-African presence spanning more than 30 African countries gives SMEs access to one of the continent’s largest banking networks,” Lungu said.

He said the African Continental Free Trade Area (AfCFTA) was opening new opportunities for intra-African trade and that Ecobank was connecting businesses to those opportunities through innovative digital solutions.

Lungu said the bank’s trade finance solutions, including letters of credit, guarantees, and import and export financing, helped businesses navigate cross-border trade while mitigating risks and improving cash flow.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.