Ecobank Nigeria has launched a new digital banking platform, Ecobank Business App, designed to strengthen the growth and sustainability of Small and Medium Enterprises across Nigeria.

According to a statement from the lender on Thursday, the app allows business owners to manage payments, monitor transactions, oversee cash flow, and run day-to-day financial operations directly from their mobile devices, eliminating delays, queues, and operational inefficiencies.

The PUNCH reports that SMEs constitute over 96 per cent of Nigerian businesses, contributing roughly 46-50 per cent of GDP and 84 per cent of jobs, making their sustainability vital for economic stability. Despite their significance, roughly 80 per cent of Nigerian SMEs fail within five years due to energy poverty, limited finance, and poor infrastructure.

Speaking at the launch in Lagos, Executive Director, Consumer and Commercial Bank, Kola Adeleke stated that the Ecobank Business App was developed to address the unique challenges faced by Nigeria’s diverse SME landscape.

He explained that the platform caters to traders, retailers, tech startups, online businesses, hospitality operators, farmers, agro-processors, manufacturers, construction firms, professionals, social commerce entrepreneurs, schools, associations, and organisations that require transparent and efficient financial management.

Adeleke noted that the app delivers faster payment collection for merchants and retailers, seamless digital transactions for online businesses, efficient vendor and staff management for hospitality players, timely payment solutions for agriculture value chains, and secure handling of bulk and high-value transactions for manufacturers and construction firms.

He added that professionals such as lawyers and consultants can issue invoices and receive payments easily, while schools and associations can streamline fees, dues, and reporting from a single platform.

The launch reinforces Ecobank’s broader commitment to empowering SMEs through digital innovation, sector-specific value propositions, and financial solutions such as structured loans, trade support, guarantees, and equipment financing. It also aligns with the bank’s push to re-energise dormant SME accounts, deepen market penetration, promote digital adoption, and scale value-chain financing through partnerships with corporate anchors.

With the Ecobank Business App, Ecobank Nigeria strengthens its position as a dependable growth partner to SMEs across all sectors, delivering tools that help businesses manage better, grow faster, and operate more competitively in a digital economy.