Ecobank Nigeria has launched the Ecobank Business App, a digital banking platform aimed at supporting the growth and sustainability of Small and Medium Enterprises (SMEs) across the country. The announcement was made on Thursday, highlighting the bank’s commitment to leveraging technology for economic development.
The app allows business owners to monitor transactions, manage payments, oversee cash flow, and handle daily financial operations directly from mobile devices, reducing delays, queues, and operational inefficiencies.
Speaking at the Lagos launch, Kola Adeleke, Executive Director of Consumer and Commercial Banking, said the platform was developed to address the unique challenges faced by Nigerian SMEs, which make up over 96% of the country’s businesses, contribute nearly 46–50% of GDP, and provide 84% of jobs. Despite their importance, roughly 80% of SMEs fail within five years due to energy issues, limited finance, and inadequate infrastructure.
The Ecobank Business App caters to a wide range of sectors, including traders, retailers, tech startups, online businesses, hospitality operators, farmers, agro-processors, manufacturers, construction firms, professionals, schools, and associations. It offers faster payment collection, seamless digital transactions, efficient vendor and staff management, timely agricultural payments, and secure handling of bulk transactions.
Adeleke noted that professionals can issue invoices and receive payments efficiently, while schools and associations can streamline fees, dues, and reporting from a single platform.
The launch aligns with Ecobank’s broader SME empowerment strategy, which includes structured loans, trade support, guarantees, and equipment financing. The bank also aims to re-energize dormant SME accounts, deepen market penetration, promote digital adoption, and scale value-chain financing through partnerships with corporate anchors.
By providing SMEs with tools to manage better, grow faster, and operate competitively, Ecobank strengthens its position as a reliable growth partner for Nigerian businesses in the digital economy.
