Women In Business Dialogue Series Highlights Need For Greater Support And Access To Financing.

The 3rd Annual Women in Business Dialogue Series, organized by the Business & Financial Times (B&FT), brought together key figures from government, the private sector, and financial institutions to address the challenges facing women entrepreneurs in Ghana.

Held at Lancaster, the event focused on the critical issues of access to financing and business development for women-led SMEs.

Dr. Godwin Acquaye, CEO of the B&FT, emphasized the importance of supporting women in business, citing the significant gap in financing for small and medium-sized enterprises (SMEs). According to statistics, SMEs face a staggering financing gap of $5 billion, despite contributing approximately 70% to Ghana’s GDP. With women accounting for 44% of the SME sector, Dr. Acquaye stressed that empowering women with the right tools and resources is crucial for business growth and economic development.

“We know that women face a significant challenge in securing collateral, and I truly believe that a dedicated Women’s Bank would go a long way in addressing this issue,” Dr. Acquaye stated.

Samuel Twum Nkansah, representing the Ashanti Regional Minister Dr. Frank Amoako-Hene, highlighted the crucial role women play in driving the economy, especially in the Ashanti Region.

From farming to trading, women entrepreneurs are a key part of the economic engine.

Nkansah also announced government’s commitment to women’s development, stating that the government had allocated GH₵51 million to the Women Development Bank in the 2025 budget, with an additional GH₵401 million set for 2026.

The bank, he noted, is already under construction and will soon offer women better access to loans and capital to scale up or start new businesses.

“Government cannot do this alone,” Nkansah said.

“Banks and state institutions must collaborate to train women on managing their businesses and accessing the necessary funds. Only through this partnership will we truly see growth.”

Regina Ofori, Head of Marketing and Brand at Ecobank PLC, also addressed the audience, sharing her company’s commitment to supporting women entrepreneurs.

Through their “Elevate Ecobank” program, Ecobank works closely with women in business to help them grow their enterprises.

Ofori noted that supporting women’s development is not just beneficial for individual businesses but for the entire country.

We believe that if a woman develops, the entire country develops.

Our program is designed to help women thrive and to create opportunities for them,” she said, emphasizing Ecobank’s ongoing efforts to collaborate with the Business & Financial Times and other stakeholders to empower women in business.

The dialogue series underscored the critical need for more tailored financial support, training, and networking opportunities for women in business.

With the collective efforts of government, financial institutions, and business leaders, the event participants expressed optimism that women-led businesses will continue to grow, contributing significantly to Ghana’s economic development.

Story by Bismark Mensah@A/R.