The top pan-African banking group, Ecobank (www.Ecobank.com), is pleased to announce that Ecobank Zimbabwe has won The Banker’s Awards 2023’s “Global Award for Financial Inclusion.” Additionally, each of the following Ecobanks was chosen “Bank of the Year 2023” in its home nation: Ecobank Benin, Ecobank Guinea, Ecobank Liberia, Ecobank Mali, and Ecobank Togo.
“These awards reflect the hard work of all Ecobankers across our Group and could not have been won without the support of our customers and partners,” stated Jeremy Awori, Chief Executive Officer of the Ecobank Group. The overwhelming success of Ecobank Zimbabwe’s collaboration with CARE Zimbabwe and UN Women is also reflected in the bank’s receipt of the Global Award for Financial Inclusion 2023.
Over 50,000 rural Zimbabwean women are benefiting from financial inclusion as a result of it, as it gives them the ability to start legal businesses that are profitable and strengthen local economies. Additionally, I am incredibly happy of our affiliates in Togo, Benin, Guinea, Liberia, and Mali on their wins as 2023’s Bank of the Year winners. I have no doubt that they, along with all of our other affiliates, will go on providing our customers with first-rate banking experiences.
Through its program, Ecobank Zimbabwe offers revolving loans and financial inclusion to Zimbabwean women’s village associations involved in horticulture, grocery stores, grower’s programs, and other ventures. The initiative’s sustainability is ensured by its low interest rates and flexible lending/credit terms program, which revolves around funds repaid. The program’s unprecedented performance allowed it to increase the number of women entrepreneurs it supported from 7,500 to 52,500 in the first half of 2023. By enabling producers, buyers, and suppliers to transact through Ecobank’s digital channels, the bank has established a financial ecosystem. Additionally, it has produced localized single market trade hubs, which, when the enterprises expand to an export level, will eventually become regional market trade hubs.
The Banker’s awards judges considered a wide range of variables while reaching their decisions. In order to receive the Financial Inclusion Award, banks from industrialized and developing nations alike were evaluated on how well they handle the problem of integrating the most vulnerable citizens of society into the financial system. They also considered the social role that these banks play in the community and the possibility that they could turn these clients into future high-margin clients.
The Bank of the Year Awards were created with the intention of honoring and encouraging excellence within the banking industry. Returns, competitive advantage, and market service were among the other evaluation criteria that were taken into consideration.
The Banker’s 2023 prizes Ceremony took place on November 30, 2023, at the Sheraton Grand Hotel in London, UK, and Ecobank’s prizes were given out there.