CalBank supports women-owned businesses in Ghana to participate in foreign trade

CalBank Plc is on a campaign to encourage more women-owned businesses in Ghana to participate in foreign trade.

Women-owned businesses constitute 44% percent of Ghana’s economy but remain largely uncompetitive on the global stage.

However, Head of Women’s Banking, Portia Manu-Boafo believes the narrative could change if they receive the necessary support.

“Most Ghanaian women are involved in trading. They are either buying from Turkey, Dubai or China. They need support. CalBank has identified suppliers and manufacturers within these regions. We are bringing our local women business owners to meet with them, tour their factories and facilitate transactions”, Manu-Boafo told JoyBusiness at the CalBank Trade Summit.

Head of Women’s Banking at CalBank, Portia Manu-Boafo

The Trade Summit held in two cities Istanbul, Turkey and Dubai, UAE is an initiative of CalBank’s Women’s Banking Unit aimed at giving women entrepreneurs the opportunity to network, access market opportunities and move their businesses to the next level.

Nightingale Esi Whyte, owner of NightWhyte Ventures, a mobile phones and accessories dealer, is among several women attending the Summit. She acknowledges business trends are changing globally.

Whyte added, “Embarking on this trip to Istanbul and Dubai is giving me opportunity to meet potential investors, learn new things and get new ideas for business”.

The engagements build on previous B2B successes, which have helped Ghanaian businesses secure international contracts and partnerships.

“We are excited about the feedback we are getting from these women entrepreneurs”, Manu-Boafo said while highlighting various financing products introduced by the CalBank to support them, including Obaapa Loan and She Rise business account. .

The Women’s Banking Unit provides digital solutions, uniquely and creatively designed to meet the financial needs of women and women entrepreneurs – offering concessionary rates, flexible collateral arrangements and a quick turnaround time.

To address the many challenges that women entrepreneurs face, CalBank PLC established the Women’s Banking Unit (WBU) in November 2018 with the core mandate of identifying, developing, and promoting women-owned and women-led businesses.

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