This article was produced with the support of Ecobank
Proparco and Ecobank Group have entered a new phase of cooperation designed to accelerate financing for Africa’s agricultural value chains and expand access to capital for women entrepreneurs.
The agreement, signed during the Africa Forward Summit co-hosted by France and Kenya in Nairobi on 11–12 May, marks a renewed commitment by the two institutions to strengthen the continent’s private sector through targeted and scalable financial solutions.
Under a new Memorandum of Understanding, the partners aim to mobilise up to EUR 300 million over three years. The financing will be directed across agricultural production, processing and trade, addressing persistent structural gaps that continue to constrain the sector’s growth.
A further commitment letter was also signed to support Ecobank’s Ellevate initiative, which is focused on strengthening women-led businesses in Côte d’Ivoire, Ghana and Kenya through capacity building and training programmes.
The partnership builds on more than a decade of collaboration between the two institutions. Since 2012, Proparco has supported Ecobank through a range of instruments including more than USD 400 million in senior loans, capital market transactions, trade finance guarantees and SME risk-sharing facilities across multiple African markets.
Both institutions said the renewed agreement reflects a shared ambition to combine Ecobank’s pan-African reach with Proparco’s ability to deploy blended financial instruments to support inclusive and sustainable growth.
Ecobank Group chief executive Jeremy Awori said the partnership would help channel capital into the real economy.
“Africa’s growth requires execution at scale. Through this expanded partnership with Proparco, we are mobilising EUR 300 million and directing it into agricultural value chains and women businesses supported by our Ellevate programme. This is capital at work in the real economy, financing food, livelihoods and local value creation,” he said.
Proparco chief executive Françoise Lombard said agriculture remained central to Africa’s development prospects but continued to face chronic underinvestment.
“Agriculture is at the heart of Africa’s future, yet it remains one of its most underfinanced sectors. By deepening our partnership with Ecobank, we are combining our strengths to unlock concrete, large-scale solutions across the entire agricultural value chain,” she said.
She added that the initiative aligned with Proparco’s 2023–2027 strategy, particularly its focus on food security, resilience and reducing inequality, including gender inequality.
The announcement comes against a backdrop of sustained pressure on global food systems. Rising geopolitical tensions, higher energy costs and supply chain disruptions have contributed to increased input prices, including fertilisers, intensifying food insecurity risks across parts of East and West Africa.
Against this environment, Proparco and Ecobank argue that scaling agricultural finance has become both an economic and strategic priority. Despite agriculture accounting for around 20 per cent of Africa’s GDP and nearly half of employment, access to finance across the sector remains limited.
A significant portion of the new financing will target small and medium-sized agricultural enterprises. Proparco will deploy partial portfolio guarantees through mechanisms such as its Impact+ and ARIZ programmes to reduce risk on Ecobank’s agri-SME lending. The initiative is expected to enable up to EUR 100 million in lending across 33 African countries.
The partners will also co-finance agro-industrial investments and develop risk-sharing structures to support long-term funding for processing companies across staple and cash crop value chains, alongside working capital needs.
In addition, the agreement seeks to expand trade finance for agricultural commodities. Proparco will provide partial risk guarantees to help Ecobank increase liquidity for commodity traders, with the broader partnership targeting up to EUR 200 million in support for agro-industrial and trading activity.
Alongside the agricultural focus, the agreement reinforces support for Ecobank’s Ellevate programme, launched in 2020 to support women-led and women-owned enterprises across Africa. The initiative combines tailored financial services with mentoring, training, networking and digital tools, and has reached more than 84,000 businesses across over 30 countries.
With Proparco’s backing, Ecobank will extend Ellevate through 12-month training programmes for 400 women entrepreneurs in Côte d’Ivoire, Ghana and Kenya. The aim is to strengthen financial management skills, improve access to markets and enhance the long-term sustainability of women-led businesses.