Deepen financing for women-owned businesses — Veep
The Vice President, Professor Naana Jane Opoku-Agyemang, has urged financial institutions to expand access to finance for women-owned businesses and young entrepreneurs to support Ghana’s economic growth. She said banks must also develop practical financial solutions for businesses in agriculture, manufacturing and trade. The Vice President made the call last Friday when she commissioned Absa ……
Last Friday, Vice President Professor Naana Jane Opoku-Agyemang called on financial institutions to expand access to finance for women-owned businesses and young entrepreneurs to bolster Ghana's economic development. She urged banks to create practical financial solutions tailored for businesses in agriculture, manufacturing and trade sectors.
Inaugurating Absa Bank Ghana's new head office, "Absa Place," in Accra, she emphasized that the investment's value should extend beyond modern infrastructure, translating into enhanced services and more opportunities for businesses and customers. Prof. Opoku-Agyemang reiterated the government's commitment to fostering a productive economy driven by value addition, enterprise, and sustainable job creation.
She stressed that a robust financial sector, capable of growing in tandem with the real economy, is essential for achieving this objective. "I encourage our financial institutions to deepen financing for women-owned businesses, young entrepreneurs, and high-growth enterprises," she stated.
Additionally, Prof. Opoku-Agyemang advocated for the use of technology to broaden financial inclusion and improve customer experience. However, she warned against neglecting customers who require personalized assistance during the transition to digital banking.
The Vice President also emphasized the need for stronger cybersecurity and information security within the banking sector to safeguard customers' funds, personal information, and transactions as digital financial services become more prevalent. She noted that the Bank of Ghana's renewed focus on cyber and information security is timely.
Second Deputy Governor of the Bank of Ghana, Matilda Asante Asiedu, highlighted that Absa Place's commissioning should signify more than just the completion of a corporate building. She emphasized that the investment must contribute to improved governance, operational resilience, sound decision-making, and sustained customer confidence. As digital platforms and payment systems rapidly expand, she added that they have created new opportunities but also introduced new risks.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
