Scaling Finance for Africa’s Food Systems

In a significant boost to agricultural development across the continent, Proparco (the French Development Agency) and Ecobank Group have announced an expanded partnership aimed at mobilizing up to €300 million over three years. The agreement, formalized during the recent Africa Forward Summit in Nairobi, will prioritize financing for agricultural value chains and women-led businesses.

Addressing Critical Gaps

The new funding will target various stages of the agricultural sector—from production to processing and trade—addressing structural constraints that have limited growth potential. A particular focus will be on small and medium-sized enterprises (SMEs), which represent a vital but often underserved segment of the African economy.

Supporting Women Entrepreneurs Through Ellevate

A key component of this partnership is strengthening Ecobank’s Ellevate initiative, providing capacity building and training programs specifically for women entrepreneurs in Côte d’Ivoire, Ghana, and Kenya. This will include 12-month mentorship programs for 400 women, enhancing their financial management skills and market access.

Building on a Decade of Collaboration

The partnership extends existing ties between the institutions that began in 2012. Over this period, Proparco has provided Ecobank with more than $400 million through various instruments including loans, trade finance guarantees, and risk-sharing facilities across multiple African markets.

“Africa’s growth requires execution at scale,” stated Jeremy Awori, CEO of Ecobank Group. “Through this expanded partnership with Proparco, we are mobilizing €300 million and directing it into agricultural value chains and women businesses supported by our Ellevate program—financing food, livelihoods, and local value creation.”

Proparco CEO Françoise Lombard added that the initiative aligns with their commitment to addressing chronic underinvestment in agriculture while promoting food security, resilience, and gender equality.