Skip to main content

Absa launches 'She Business' to offer Ghc2m in collateral-free loans to women entrepreneurs

 In a move to address the gender financing gap, Absa Bank Ghana LTD has launched ‘She Business’, an update to its women’s banking proposition that offers collateral-free loans of up to GHc2 million at 10% per annum to eligible female entrepreneurs.

The initiative forms part of the bank’s broader effort to help close Ghana’s estimated $6.1 billion MSME credit gap.

Today’s launch is not just about updating our proposition. It is a statement of our intent to help women entrepreneurs take advantage of real business opportunities,” said Dr. Edward Nartey Botchway, Managing Director of Absa Bank Ghana LTD.

“For us, it is a compelling opportunity to implement a system that helps MSMEs thrive.”

She Business has been developed on the successes chalked by EMERGE, Absa’s programme tailored for women-led enterprises, which disbursed over GHc800 million in funding.

The refreshed offering combines financial access with advisory services, business insurance, market access opportunities, networking platforms, international trade trips, and more.

In addition, Absa also offers collateralised loans of up to $1 million for established SMEs customers, including women-owned businesses, looking to scale further.

Audrey Abakah, Director of SME Banking and Partnerships at Absa Bank Ghana, outlined the strategic evolution of the updated proposition.

“Our approach is based on what women told us they value most: practical support, affordable credit, and a bank that sees their potential and stands with them at every stage of growth. She Business is designed to deliver on all those needs.”

Gottfried Odamtten-Sowah, Head of Entrepreneurship Development at Mastercard Foundation Ghana, added:

It is an honour for the Mastercard Foundation to stand with Absa Ghana in this endeavour. We are committed to forging strategic partnerships that address the barriers women entrepreneurs face, and to creating sustainable pathways for young women and their businesses to flourish.”

The launch event brought together women business owners, corporate leaders, and policymakers, with representation from the Mastercard Foundation, Hollard Ghana, Telecel Ghana, DHL Group, Ghana Export Promotion Authority (GEPA), and Development Bank Ghana (DBG).

As part of the launch, Grace Amey-Obeng, Founder and CEO of FC Group of Companies; Abigail Amma Afriyie Abora, CEO of Aide Chemists Ltd; and Freda Sarkodie Donkor, CEO of FH Depot, were unveiled as official Champions of Absa She Business.

Labels:

Comments

Post a Comment

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...
Post a Comment
Read more

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...
Post a Comment
Read more

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...
Post a Comment
Read more