Women entrepreneurs in Rwanda are set to benefit from a powerful boost with the official launch of Ellevate 2.0, an expanded and enriched version of Ecobank Rwanda’s flagship programme designed specifically for women in business. Launched on June 27 at the Pinnacle Kigali Hotel, the initiative places women-led businesses and women-focused enterprises at the centre of a bold new vision, one that goes far beyond traditional banking.
From small informal traders to registered SMEs, many women across Rwanda face barriers that limit their ability to grow and compete. Challenges around collateral, limited access to skills training and weak links to larger markets are among the main obstacles. Ellevate 2.0 aims to close these gaps by offering support that is not only financial but deeply practical, personalised and forward-looking.
The programme has been upgraded to ensure women entrepreneurs receive help at every stage of their journey. One of the standout features is collateral-free loans of up to RWF 70 million, offered at preferential interest rates. This alone is expected to open doors for many women who previously struggled to meet the requirements of conventional loans. But the initiative doesn’t stop at financing. It offers a robust package that includes mentorship, access to development partners, capacity-building opportunities and tools to help businesses scale sustainably.
Women who join the programme will also be introduced to MyTradeHub, Ecobank’s Pan-African platform that facilitates cross-border trade. This digital market linkage tool allows women entrepreneurs to connect with buyers and suppliers across Africa, a huge advantage for those looking to expand their reach beyond Rwanda’s borders.
The bank’s managing director Carine Umutoni explained that Ellevate 2.0 was not created as just another bank product. She said the thinking behind it was shaped by an understanding that women need much more than capital to succeed. According to her, networks, new markets and training are just as essential as funding and without them, financial support alone would fall short. She described the programme as a “holistic platform” intended to build bridges, unlock opportunities and foster real growth.
One of the new additions to the programme is its integration with the Goldman Sachs 10,000 Women Programme, a globally recognised initiative focused on accelerating the growth of women-owned businesses. Rwanda’s first cohort in this programme has already started receiving training in areas like leadership, negotiation, sales and marketing. Umutoni acknowledged the cohort’s progress and said they represent the future of Rwanda’s business ecosystem. She highlighted their drive, vision and commitment as key indicators of the programme’s potential to drive long-term transformation.
The launch of Ellevate 2.0 also aligns closely with Rwanda’s national commitment to financial inclusion, especially following the country’s adoption of the Women Entrepreneurs Finance Code (WE Finance Code) just one month prior. Speaking at the event, the Governor of the National Bank of Rwanda, Soraya Hakuziyaremye, welcomed Ecobank’s swift move to launch such a comprehensive programme. She said Ellevate 2.0 was a practical example of what real support for women in business should look like.
For the Governor, the impact of such initiatives will only be meaningful if results are visible. She stressed the need for measurable progress, such as more women getting funded, more businesses scaling operations and a sharp rise in credit allocated to women-led SMEs over the next year. This, she explained, would demonstrate that financial inclusion is more than just a goal, it must become part of everyday reality for women entrepreneurs.
The event also featured an engaging session led by Sarah Richson, an international executive coach and the CEO of Richemele International. Her message focused on personal branding and digital visibility, encouraging women to see themselves as business assets. She said entrepreneurs need to understand that people often invest in the person behind the product or service. Her presentation served as a reminder that success in business is not just about what you offer but how confidently and strategically you present it.
With this relaunch, Ecobank is doing more than just providing financial products, it is investing in the future of African women in business. Ellevate 2.0 is designed to equip women with the tools, networks and knowledge they need to thrive in competitive markets and lead enterprises that contribute meaningfully to economic development.
By bridging gaps in finance, capacity and opportunity, Ecobank is setting a new standard for how financial institutions can empower women entrepreneurs. The launch of Ellevate 2.0 is not just a milestone for the bank, it is a step forward for inclusive growth in Rwanda. And for the many women striving to build and grow their businesses, this could be the opportunity that changes everything.
