Ecobank Ghana pledges increased support for women-led businesses
By Isaac AIDOO, Accra
Ecobank Ghana Limited says it has fashioned out special products to support women-focused businesses to grow and expand their enterprises.
The Bank has committed to supporting women deal with the disparities that impact the contributions of women and ensuring they thrive and are more inclusive.
Ecobank’s interventions would help reduce the disparities which are largely influenced by gender discrimination, limited access to capital, lack of support networks, and other social and self-limiting factors.
The bank, on the occasion of the International Women’s Day celebrated last Friday lauded the remarkable achievements of women-owned and women-led businesses in Ghana, noting that the resilience, creativity, and unwavering commitment of women had helped in transforming families, communities, and economies, thereby, paving the way for a more equitable future for all, without regard to gender, the world over.
Speaking at a forum themed: “Investing in women-focused businesses to accelerate progress,” to mark the day, Regional Head, Anglophone West Africa , Commercial Banking at Ecobank, Madam Charlotte Amanquah on behalf of the Managing Director Mrs Abena Osei-Poku stressed the importance of inclusivity for the bank.
“At Ecobank, we take the issue of inclusivity very seriously, both within and without. Internally, we try our very best to always equip, support and encourage our female employees to rise along their carrier paths into senior management positions,” she assured.
For the bank’s customers, “we often acknowledge the effects of the disparities, mentioned earlier, on accelerating the progress of women-focused businesses. I am happy to say that this inclusivity agenda is in line with our group-wide theme for the 2024 International Women’s Day celebration, A Better Way to Accelerate Inclusion.”
The MD urged women-led businesses to take full advantage of specialized product offerings from Ecobank such as the Elevate Programme.
“We at Ecobank help to identify and eliminate the key challenges faced by women-focused businesses, which often include inadequate collateral, high cost of borrowing, inadequate bookkeeping/financial records,” Mrs Osei-Poku indicated.
The Bank, she stated ensures effective financial inclusion by creating, tailoring, and making accessible simple financial products and services to women entrepreneurs, which usually include credit, savings, investments, and insurance.
“We provide networking and mentorship opportunities by creating platforms to connect women entrepreneurs and enable them share experiences, offer mentorship, and help them build valuable connections and access to wider markets,” she added.
According to the MD, the benefits of investing in women could not be overemphasised, as it often had a multiplier effect, impacting positively on humanity.
She noted further that “women, generally, have a central role in social dynamics, with the ability to identify and implement effective solutions to societal challenges and serving as the key source of social cohesion. It is well documented that when women have power, there are fewer conflicts, less violence, and more harmonious relationships.”
