The Initial Public Offer (IPO) of the first-ever Women’s Mutual Fund (WFund), which was launched March this year, has been extended to May 23, 2008 to allow more Ghanaians to take advantage of it.

The fund was born out of a collaborated effort between Women’s Management and Financial Solutions Initiative (WMFSI) and Strategic African Securities Investment Management (SASIM).

It is expected to provide a long term investment avenue for women to grow their wealth and take control of their financial future.

Statistics available show that women constitute about 50% of the Ghanaian population however, only a fraction of them participate in the financial market.

Speaking to the Ghana News Agency, Mrs Regina Pepra-Omani, the Chairman of the Board of the Fund said the scheme was targeted at women from all walks of life but added: “it is not limited just to women; men can invest for their wives, daughters, mothers, aunties, nieces and themselves.

“In a nut shell, anybody born of a woman can invest in this fund,” she said.

Reviewing the savings situation the country, Togbe Afede XIV, Chief Executive Officer of SAS Investment Management told the GNA that low savings rate has long been identified as our bane.

He said studies have shown that while gross capital formation in Ghana has been rising sharply since 1983, gross domestic savings has on average remained about the same as in the early 1970s.

“So the investment gap has been widening and the Women’s Mutual is here to enable us all take advantage of the tremendous opportunities available in our markets and also enable us to be part of the expected economic boom.”

The Fund has a minimum investment of GH¢10, that is 100 shares at 10Gp per share.

Source: GNA