Mahama’s meeting with UN financial inclusion renews focus on women’s access to finance – Joyce Bawah Mogtari

President John Dramani Mahama's meeting with Queen Máxima of the Netherlands, United Nations Secretary-General's Special Advocate for Inclusive Finance for Development, has reignited discussions on enhancing women's access to financial services in Ghana and globally. According to Joyce Bawah Mogtari, Senior Presidential Advisor and Aide to President Mahama, the encounter, which took place on the sidelines of the 81st United Nations General Assembly, united two prominent advocates in their pursuit of making financial systems more accommodating to women's requirements.

Queen Máxima has been a driving force behind initiatives to broaden access to financial resources, fortify institutions, and enhance the capacity of marginalized groups to engage in economic activities.

In a Facebook post on October 9, Mrs. Bawah Mogtari emphasized the significance of the meeting, highlighting the common goal of creating financial systems better tailored to women's needs, thereby unlocking their full economic potential. Data presented by Mrs. Bawah Mogtari indicates that as of 2024, 78.3% of Ghanaian women aged 15 and above possessed a bank or mobile money account, a substantial increase from 27.1% in 2011.

However, she pointed out that men had a higher account ownership rate at 84.4%, underscoring persistent disparities in access to credit as an ongoing concern.

Mrs. Bawah Mogtari outlined several steps Ghana should take to improve financial inclusion for women, including the need to provide more affordable financing options for women-owned businesses, implement more adaptable collateral requirements, expand access to patient capital, and offer deliberate support to women-led industries.

She also underscored the pivotal role of the Women's Bank in advancing women's financial inclusion efforts. Mrs. Bawah Mogtari stressed that ensuring women's economic empowerment should remain a top priority in Ghana's development agenda, emphasizing that financial inclusion is central to empowering women, strengthening households, and fostering sustainable economies.