Elsie Awadzi asks women to invest in themselves

The 2nd Deputy Governor of the Bank of Ghana, Mrs Elsie Addo Awadzi, has urged women to invest in themselves to improve their fortunes in all facets.

According to her, by improving themselves, women would be readying themselves for opportunities as they came along.

She made the call during a virtual Pan-African Women Conference to highlight the importance of creating an enabling environment to help women thrive.

Mrs Awadzi said the advocacy to empower women had been long and seen tremendous progress with many women occupying leadership roles, but there were challenges that needed to be surmounted to ensure that more women realised their full potential.

“It is the collective duty of all to ensure women progress in all sectors because the impact ensures growth.

“Data from the International Finance Corporation (IFC) in a Goldman Sachs report estimates that as many as 70 per cent of women-owned SMEs in the formal sector in developing countries are unserved or underserved by financial institutions — a financing gap of around $285 billion — and if this gap is closed the economic benefits are enormous," she said.

Impact

The Managing Director of Access Bank Ghana, Mr Olumide Olatunji, stressed the impact women had on society when they were supported to thrive.

“A wholesome society requires that everyone is able to wield his/her power and contribute to building a sustainable economy that supports human enterprise…When women rise and grow, the society is better off for it, because the resilience and commitment given ensure there is enough to benefit all.”

“As a bank, our commitment to women advancement sits at the centre of our sustainability and financial inclusion strategies,” he added.

He said the bank recognised the critical role women played, particularly in the economy, and that informed the products and services, as well as initiatives that the bank pursued, including the ‘W’ Initiative.

The CEO of ScaleUp Africa, Ms Amma Gyampo, indicated that her organisation was on a mission to forge closer ties among African businesses for positive, long-term economic legacy.
As such, she said the partnership with Access Bank to organise the conference would help women-owned businesses tap into opportunities available.

Conference
The conference was organised in partnership with ScaleUp Africa, a Pan-African enterprise development agency focused on innovative strategies to help women-owned SMEs go global.