By Stanley Senya
Accra, March. 24, GNA – Mrs. Matilda Asante Asiedu, Second Deputy Governor of the Bank of Ghana, has underscored the broader economic importance of empowering women through inclusive financial solutions, noting their central role in national development.
She made the remarks at the launch of Stanbic Bank Ghana’s new women-focused banking proposition, ‘Obaa Sima’, aimed at expanding access to finance and business support for women, particularly those in the informal sector.
Mrs. Asante Asiedu described the Obaa Sima solution as a well-thought-out response to the real needs of women driving economic activity in trade, agriculture, and emerging digital enterprises.
She said the launch was both symbolic and strategic, reinforcing the long-held truth that empowering women strengthened households, communities, and the economy.
“Women are central to economic activity, from vibrant markets to agribusiness value chains and emerging digital enterprises. They remain the backbone of micro, small and medium enterprises, dominating trade, agriculture, retail, and increasingly, services and innovation,” she said.
Mr. Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana, said the initiative was part of the bank’s commitment to financial inclusion and economic growth.
He noted that Obaa Sima was developed from a deep understanding of the unique challenges women faced in accessing finance and growing their businesses.
“Today’s launch is our statement of intent, a commitment to deepen inclusion and unlock the economic potential of Ghanaian women.
From the entrepreneur in Kumasi to the professional in Accra, the trader in Tamale, and the young innovator building tomorrow’s enterprise, Stanbic Bank is committed to supporting their growth,” he said.
Mrs. Nana Oye Bampoe Addo, Deputy Chief of Staff in charge of Administration, commended the bank for adopting a targeted approach to addressing the financing gap facing women.
She said improving access to finance required not only credit but also advisory services, capacity building, and sustained engagement.
She added that the Obaa Sima solution demonstrated what was possible when financial services were aligned with the real needs of women-led businesses and urged stakeholders to collaborate to remove structural barriers limiting women’s participation in the economy.
With about 92 per cent of women engaged in the informal sector, many rely on informal financing channels that restrict their ability to scale and compete.
Studies indicate that nearly 58 per cent of women entrepreneurs cite lack of funding as their biggest challenge.
The Obaa Sima solution seeks to address these gaps through a combination of financial and non-financial support.
This includes access to the bank’s business incubator for capacity building and financial literacy, opportunities to expand through international trade corridors, and advisory services alongside tailored financial products to support both business and personal growth.m
GNA
Edited by George-Ramsey Benamba