Absa Bank Ghana LTD has launched a groundbreaking initiative aimed at
empowering women entrepreneurs with financial support. The new scheme, called
She Business, offers collateral-free loans of up to GHc2 million at an annual
interest rate of 10% for eligible female business owners. This initiative is
part of the bank’s larger strategy to bridge the gender financing gap and
support small and medium-sized enterprises.
Ghana’s micro, small, and medium enterprises face an estimated $6.1 billion
credit gap, making access to finance a significant challenge. The Managing
Director of Absa Bank Ghana, Dr. Edward Nartey Botchway, stated that the bank
is committed to creating financial solutions that help businesses grow. He noted
that the launch of She Business represents more than just an update in banking
services but is also a strong statement of intent to support women
entrepreneurs in seizing business opportunities.
Absa has built She Business on the foundation of its successful EMERGE
program, which has already provided over GHc800 million in funding to women-led
enterprises. The revamped initiative extends beyond just financial support by
offering advisory services, business insurance, market access opportunities,
networking platforms, and international trade trips. These additional features
aim to provide women with the tools needed to expand their businesses beyond
financing.
Apart from the collateral-free loans, Absa Bank Ghana is also offering
secured loans of up to $1 million for established small and medium-sized
enterprises. These loans will help businesses scale up and achieve long-term
growth. The Director of SME Banking and Partnerships at Absa, Audrey Abakah,
emphasized that She Business was developed based on insights from women
entrepreneurs. She explained that women value practical support, affordable
credit, and a banking partner that believes in their potential at every stage
of business growth.
The Mastercard Foundation Ghana has partnered with Absa Bank in supporting
this initiative. The Head of Entrepreneurship Development at Mastercard
Foundation Ghana, Gottfried Odamtten-Sowah, expressed excitement about the
collaboration. He reiterated the foundation’s commitment to removing barriers
that hinder women entrepreneurs from thriving and creating sustainable business
opportunities.
The launch event attracted key stakeholders, including women business
owners, corporate leaders, and policymakers. Representatives from major
organizations such as Hollard Ghana, Telecel Ghana, DHL Group, Ghana Export
Promotion Authority, and Development Bank Ghana were also present. Their
participation highlighted the widespread support for initiatives that promote
financial inclusion and economic empowerment for women in Ghana.
To further strengthen the program’s reach, prominent businesswomen were
introduced as official Champions of Absa She Business. These included Grace
Amey-Obeng, the Founder and CEO of FC Group of Companies; Abigail Amma Afriyie
Abora, the CEO of Aide Chemists Ltd; and Freda Sarkodie Donkor, the CEO of FH
Depot. Their involvement is expected to inspire more women to take advantage of
the opportunities presented by She Business and elevate their enterprises.
With this initiative, Absa Bank Ghana continues to reinforce its position as
a key driver of business growth and economic development. The bank remains
focused on providing innovative financial solutions that empower businesses and
create opportunities for sustainable progress in Ghana’s entrepreneurial
landscape.
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