Business News of Thursday, 27 July 2023

Source: Odelia Ntiamoah, Contributor

38% of women SMEs are looking for investment, 60% want access to market - Report

Some patrons at the conference Some patrons at the conference

Data collected by the Oxford Africa Women Leadership Institute on 1,300 women business owners in Ghana indicates that 38% of women-led businesses in the SME sector are actively looking for funding while 60% desperately want access to markets.

Odelia Ntiamoah, the Global Director of the Oxford Africa Women Leadership Institute and convenor of the Women Investment Summit Africa, delivering the welcome address, indicated the research was the reason for the summit, with a focus on two key issues; access to finance and market for women-owned businesses.

Built on this background the Deputy CEO of MASLOC, Paul Sabeng, invited all the Ghanaian women-led businesses at the summit, to take advantage of their, 12% annual interest on loans for organisations.

He encouraged them to keep proper books in order to qualify for investments.

The Ghana Alternative Market was established with the primary focus of getting small and medium-scale enterprises to list on the Ghana Stock Exchange.

Head of Listing and New Products, Joyce Boakye, called on women-led businesses to pay attention to their unique selling point and also develop their financials to attract investment, especially on the stock exchange.

“To meet our requirements, we have decided to create a special capacity-building structure to prepare you for the Ghana Alternative Market” she added.

Ghana Revenue Authority took its turn with the assistant commissioner, Kumasi area head, Agnes Adu Boateng charging the 400 women participants, to pay their taxes. After delivering her speech, she spoke to the women in groups to address their peculiar problems relating to tax.

On export the AfCFTA and the Ghana coordinating offices took the opportunity to speak on export readiness, and issues relating to rules of origin. Marie-Clarisse Avore Bekale, from the Africa Continental Free Trade Area, promised an open-door policy and support women-led businesses under the gender protocols being developed.

Private consultants and people in the funding agencies including Reach for Change and Impact Investing Ghana delivered sessions on positioning for investment.