Nana Prempeh, President of the Kejetia Federation of Kumasi Traders, has called on the government to ensure that the proposed Women’s Development Bank is easily accessible to women in trade.
According to him, “I want the Finance Minister to address this issue, but the key question is: how accessible will it be for ordinary women in the market? Will it simply be another banking system that is difficult for us to access?
Is it going to be a party-political initiative or will it be open to everyone? How accessible will it really be, and at what interest rate? Currently, if you want to access funds from these banks, they ask for collateral, but many of our women, who may only need GHC 5,000 or GHC 10,000 as start-up capital, do not have the collateral to secure such loans.”
Speaking on Joy FM’s Super Morning Show on Monday, 11 March, while discussing the 2025 budget, Nana Prempeh emphasised that Finance Minister Dr. Ato Forson should clarify to the public how accessible the bank’s services will be for traders.
He highlighted the importance of empowering female traders with financial resources to enhance their businesses and ensure their success.
The Women’s Development Bank, a promise made by the National Democratic Congress (NDC) government, aims to provide start-up capital and low-interest loans to women-led businesses, especially in the informal sector.
Read also: Women’s Development Bank is not needed; GCB can equally play the role – PNP
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