This article was produced with the support of ECOWAS Bank for Investment and Development
EBID steps up support for private sector growth and energy security across West Africa
The ECOWAS Bank for Investment and Development (EBID) has approved a series of strategic financing operations aimed at strengthening private sector development and enhancing energy security across West Africa.
The approvals, announced following the 98th Ordinary Session of the Bank’s Board of Directors on 16 June 2026, comprise commitments totalling USD 75m and EUR 105m. The investments underscore EBID’s commitment to fostering inclusive, resilient and investment-driven growth across the ECOWAS region.
Opening the session, the Bank’s President and Chairman of the Board of Directors, Dr George Agyekum Donkor, highlighted the significance of the new commitments.
“These interventions demonstrate our resolve to support transformative initiatives that strengthen productive capacities, secure energy supply and expand access to finance for businesses, particularly SMEs, which are the true engines of our region’s economic transformation,” he said.
The approved transactions span banking, energy and industrial sectors, reflecting EBID’s strategy of supporting projects with broad economic impact.
A key component of the package is an EUR 80m credit line to Coris Holding SA, one of the leading banking groups in the West African Economic and Monetary Union (WAEMU). The facility is designed to strengthen the group’s lending capacity, particularly to small and medium-sized enterprises, which account for more than 70% of its loan portfolio. The financing is expected to stimulate productive sectors, deepen financial inclusion and support job creation across the region, while reinforcing EBID’s longstanding partnership with the banking group.
In Senegal, EBID approved an EUR 25m participation in a syndicated Murabaha facility for the national electricity utility, SENELEC. Arranged in partnership with the International Islamic Trade Finance Corporation (ITFC), the financing will support the procurement of refined petroleum products used in electricity generation. The operation is expected to help maintain a reliable power supply and support economic and industrial activity in the country.
The Bank also approved a USD 50m facility for Stratcon Energy and Trading Limited in Ghana. The funding will support the importation and distribution of refined petroleum products, including through a partnership with the Dangote Refinery. By improving the reliability of fuel supplies, the operation is expected to strengthen regional energy security and enhance economic competitiveness across West Africa.
In Guinea, a USD 25m facility has been approved for Topaz Multi-Industries SA to finance the importation of industrial raw materials. The investment is expected to increase local manufacturing capacity, strengthen the country’s industrial base, promote import substitution and create sustainable employment opportunities.
Taken together, the four operations illustrate EBID’s integrated approach to development, combining support for financial inclusion, industrialisation and energy security. They also align closely with the Bank’s GRO Strategy 2026-2030, which focuses on accelerating economic growth, strengthening resilience and optimising development outcomes across West Africa.
As the region seeks to drive industrial expansion, improve energy access and unlock greater private sector investment, EBID is positioning itself as a key source of long-term development finance, helping to create the conditions for more sustainable and inclusive economic growth.