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April 5th , 2025

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ABSA BANK ROLLS OUT GHC2M COLLATERAL-FREE LOANS FOR WOMEN ENTREPRENEURS

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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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