Absa Ghana has launched “She Business,” a comprehensive banking initiative designed to empower and support women-owned enterprises throughout the country.
In collaboration with partners such as Mastercard, Hollard Insurance, Telecel Ghana, the Ghana Export Promotion Authority, and DHL, the She Business program is aimed to offer women entrepreneurs access to collateral-free loans of up to GH₵2 million, alongside a suite of valuable resources including advisory services, tailored business insurance, networking opportunities, international business trips, and market expansion initiatives.
This groundbreaking initiative is a pivotal component of Absa’s broader strategy to address Ghana’s daunting $6.1 billion credit gap affecting micro, small, and medium enterprises (MSMEs).
Dr. Edward Nartey Botchway, Managing Director of Absa Bank Ghana Ltd., emphasized the significance of the launch, stating, “Today’s launch is not merely an update to our offerings; it is a definitive statement of our commitment to empowering women entrepreneurs to capitalize on legitimate business prospects. For us, this marks a vital opportunity to implement a robust support system that enables MSMEs to flourish.”
The introduction of She Business builds on the success of EMERGE, Absa’s previous program tailored for women-led enterprises, which successfully disbursed over GH₵800 million in funding. The revamped initiative not only enhances access to financial resources but also integrates extensive advisory services, comprehensive business insurance, avenues for market access, and international trade opportunities, ensuring a holistic approach to fostering business growth for women.
Furthermore, Absa is committed to providing collateralized loans up to $1 million for established SME customers, including women-owned businesses, who are poised for further scaling. This financial support aims to bolster the growth trajectories of these enterprises, enabling them to thrive in increasingly competitive markets.
Audrey Abakah, Director of SME Banking and Partnerships at Absa Bank Ghana, highlighted the strategic evolution of the updated offering. “Our approach is driven by the insights we’ve gleaned from women entrepreneurs about what they value the most: practical support, affordable credit options, and a banking partner that recognizes their immense potential and stands by them throughout every stage of their growth journey. She Business is meticulously crafted to address these critical needs.”
Additionally, Gottfried Odamtten-Sowah, Head of Entrepreneurship Development at the Mastercard Foundation Ghana, expressed pride in collaborating with Absa Ghana on this significant initiative. “It is an honor for the Mastercard Foundation to partner with Absa Ghana in this endeavor. We are dedicated to forming strategic alliances that address the unique challenges faced by women entrepreneurs and create sustainable pathways that empower young women and their businesses to thrive.”
Highlighting the program’s commitment to representation and leadership, Grace Amey-Obeng, Founder and CEO of FC Group of Companies; Abigail Amma Afriyie Abora, CEO of Aide Chemists Ltd; and Freda Sarkodie Donkor, CEO of FH Depot, were officially introduced as the Champions of Absa She Business, symbolizing the bank’s dedication to uplifting women entrepreneurs and celebrating their contributions to the economy.