Support women-owned MSMEs – Second Deputy Governor

Financial In­stitutions must in­crease their funding to women-owned Micro, Small and Medium Enterpris­es (MSMEs) to build an inclusive economy, the Second Deputy Governor of the Bank of Ghana (BoG), Mrs Elsie Addo Awadzi, has said.

That, she said, would help facilitate the country’s economic recovery.

Speaking at the 2022 Sales Champion Challenge awards or­ganised by CapitalPlus Exchange (CapPlus), she said supporting women businesses would help in promoting job creation and security.

The award is under the Financial Institution Resilience and Strengthening (FIRST+) Programme.

It is aimed at strengthening financial institutions to enable them to increase lending to MSMEs and create work oppor­tunities for 60,000 Ghanaians, predominantly young women and men.

Mrs Awadzi pledged that the BoG would continue to provide leadership and strategic guidance to the FIRST+ Programme, par­ticularly on issues of governance and implementation.

In all, staff of six financial institutions were adjudged win­ners of the 2022 Sales Champion Challenge awards.

They were Mr Obed Asiamah of Ahantaman Rural Bank, who placed first, while Mr Ernest Gyau of Sefwiman Rural Bank and Mr Emmanuel A. Kissi Ye­boah of Best Point Savings and Loans took the second and third positions respectively

The rest included Mr Joseph Kwasi Nyamekye of Akuapem Rural Bank; Mr Thomas Kwame Piedu of Fiaseman Rural Bank and Mr Samuel Nyarko of Mu­muadu Rural Bank.

The CapPlus Programme Lead for the FIRST+ pro­gramme, Mr Binyam Tadesse, said CapPlus and GHAMFIN had delivered training and we­binars on a variety of topics to over 600 financial institutions and 1,400 people through the FIRST+ Programme to enable them to help small businesses

 in their communities grow and thrive.

Mr Tadesse said FIRST+ and CapPlus addressed the under­lying challenges that inhibited financial institutions from lending to MSMEs by partnering with them to change mindsets, imple­ment proven methodologies and practices, and tailored- services for women and other under­served segments.

The Country Director of the MasterCard Foundation Gha­na, Rosy Fynn, said extending financial support to MSMEs will help create jobs for women and the youth.


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