It has emerged that about 40% women entrepreneurs are risk averse and therefore shy away from loans and other financial instruments made available to them by government.

The Second Deputy Governor of the Bank of Ghana, Elsie Addo-Awadzie, at the 2nd Anniversary Celebration of the Association of Ghana Industries Women in Business, urged women to explore various financial instruments for growth including the Ghana Stock Exchange.

“It is important for women entrepreneurs and female-led businesses not to be risk-averse to credit facilities. Data shows that women do better in loan repayment than men. Securing the needed loans to expand your business is crucial,” she stated.

The Canadian High Commissioner to Ghana, Kati Csaba announced a women-focused bilateral trade agreement between Ghana and Canada which will see about 31,000 women enterprises having direct access to funding worth 100,000 Canadian dollars.

“The Canadian government is very interested in women enterprises. By that, we have developed and introduced Canada’s Feminist International Assistance Policy. Ghanaian women need more opportunities to succeed and greater control over resources and decision making.”

“When women are able to develop their full economic potential – whether as business leaders, entrepreneurs or producers – economies thrive and the benefits of growth reach more people,” she said.

Also, the Chief Executive of the Ghana Enterprise Agency, Kosi Yankey-Aryeh, announced “an all-round women support services to help female-led businesses scale up amid the scourge of the pandemic.”

President-elect of the Association of Ghana Industries, Dr. Humphrey Anin-Darkeh, speaking at the same event revealed that his leadership will be very heavy on the promotion and sustenance of women-led businesses in the country.

The 2nd Anniversary of the AGI Women in Business was themed: “Women-led Businesses: Exploring Finance Channels and Market Access for Growth”.

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