Let’s design gender-responsive financial solutions - New GEA boss to financial institutions

The Chief Executive Officer (CEO) of the Ghana Enterprises Agency (GEA), Margaret Ansei, has called on financial institutions operating in the country to deliberately design gender-responsive financial solutions to help bridge the barriers that prevent women from accessing credit.

The new CEO explained that such interventions could play a vital role in enabling women-owned businesses to secure funds to enhance their operations and promote gender equality, economically empower them and create an equitable society that leaves no one behind.

Speaking at the International Women’s Day Celebration organised by the GEA in Accra on March 7, Ms Ansei stated that accelerating growth for women-owned businesses requires collaboration from all stakeholders.

“To our financial institutions, we urge you to develop gender-responsive financial products and bridge the barriers that prevent women from accessing credit,” he said.

International Women’s Day

The GEA International Women’s Day Celebration was marked with a forum and a fair that saw exhibitors showing their ware.

It was on the theme: “Accelerating growth to empower women and expand markets”.

Dignitaries included the Greater Accra Regional Minister, Linda Ocloo; the Eastern Regional Minister, Rita Akosua Adjei Awatey; a politician and journalist, Obuobia Darko; Member of Parliament for Awutu Senya East Constituency, Phyllis Naa Koryoo Okunnor, and other personalities.

The day was set aside by the United Nations in 1975 to recognise and celebrate the economic, political and social achievements of women globally.

It was also to draw the world’s attention to areas requiring further action and the need to accelerate gender equality.
Major bottleneck

Ms Ansei stated that access to finance remains a major bottleneck for women entrepreneurs across the country.

“Over the years, GEA has led several financial support interventions, including grant schemes, loans and specialised funding initiatives tailored for female-owned MSMEs. These have enabled thousands of women-led businesses to invest in production capacity, technology and workforce expansion.

“However, we know that temporary interventions are not enough. We need a structured, sustainable and large-scale financing model that prioritises women,” she said.

She said the agency fully supports the government’s vision to establish a Women’s Development Bank, a dedicated institution offering customised financial products, business development services and capacity-building programmes specifically for women entrepreneurs.

She added that this initiative would redefine women’s access to finance, eliminating barriers like collateral demands, high interest rates and financial exclusion, and instead, offer funding solutions designed to support their expansion into high-growth industries.

The Greater Accra Regional Minister stated that many women still face barriers to economic participation and financial inclusion.

“As we celebrate women's achievement, we must also renew our commitment to creating an enabling environment that allows them to shine and succeed.

“You agree with me that when women have access to education, financial resources and technology, they create sustainable business, generate employment and drive innovation,” she said.

She added that women must continue to invest in capacity-building programmes that enhance skills and knowledge to scale up their enterprises and contribute meaningfully to the economy.

Enabling environment

The Eastern Regional Minister said that the government was committed to supporting women in business to grow and enhance their operations.

“We are working to create an enabling environment that promotes entrepreneurship, innovation and economic empowerment through various initiatives.

“Our government is also working to address the systemic barriers that prevent women from reaching their full potential. We are promoting policies and programmes that support women's economic empowerment,” she added.