SOFA Fund to support women in Zongo communities – Adongo

The government will introduce the SOFA Fund, a financial support initiative aimed at assisting women in Zongo communities and other underserved areas, according to Isaac Adongo, Member of Parliament for Bolgatanga Central and a board member of the Bank of Ghana.

Speaking on GHOne TV on Monday, March 3, 2025, Mr Adongo explained that while the Women’s Development Bank is being set up to serve female entrepreneurs nationwide, the SOFA Fund is specifically designed to address the financial challenges faced by women in Zongo communities.

“The SOFA Fund is not another Zongo Ministry gimmick, it is a real, targeted intervention that will provide financial and technical support to women in Zongo communities to help them scale their businesses and improve their livelihoods,” he stated.

Mr Adongo noted that many women in these areas operate in the informal sector but struggle to access capital and business training, making it difficult for them to expand their enterprises.

He said the SOFA Fund will provide direct financial aid, training, and business support to help them build sustainable businesses.

He criticised past initiatives that did not directly benefit women in Zongo communities, adding that the SOFA Fund will be structured to ensure a measurable impact.

“We believe in empowering women because when women succeed, families and communities benefit. This is not about politics; it is about real economic empowerment,” he said.

Mr Adongo assured that the government is committed to strengthening women’s participation in economic activities as part of Ghana’s broader development strategy.