Participants at a roundtable discussion called for the creation of policies that actively support and uplift women’s businesses.
The event, organized by the Network for Women’s Rights (NETRIGHT), Ghana, and supported by Open Society-Africa, focused on the unique challenges women face in the private sector, particularly amid Ghana’s ongoing economic struggles. The discussion aimed to explore the impacts of the current debt restructuring on women-owned businesses and to advocate for gender-transformative social policies.
Ghana’s economy has been hit hard by factors including the COVID-19 pandemic, rising global food and energy prices, the Russia-Ukraine conflict, and internal structural economic issues.
Ms. Fatima Abigail Abdulai, Executive Director of the Widows and Orphans Movement (WOM), highlighted the critical role women-led businesses play in feeding the country, but lamented that these businesses are often overlooked in policy-making.
“If we really want to support these businesses and ensure their success, we need to change the policies. Policies should serve people, not the other way around. If something isn’t working for us, we need to reassess and amend it,” she stressed.
Ms. Abdulai pointed out that high-interest rates, stringent loan conditions, and lack of incentives are significant barriers to the growth of women-owned businesses. She also noted that in northern Ghana, social norms often prevent women from owning land, a common requirement for securing bank loans.
Madam Maureen Erekua Odoi, Executive Vice-Chair of the Association of Ghana Industries (AGI), suggested allocating a percentage of projected tax revenue from the restructuring programme to support women’s business development.
“Women need to balance their lives to succeed in business,” she stressed.
Mrs. Deborah Freeman, General Secretary of the Union of Informal Workers Association (UNIWA), criticized the bureaucratic hurdles that prevent the informal sector from benefiting from government interventions. She urged women entrepreneurs to save and invest in pension schemes for future security.
“In this economy, if you don’t take steps to help yourself, you will struggle,” she warned.
Professor Akosua Darkwah, Convenor of NETRIGHT, expressed concern about economic justice for women in the context of debt restructuring. She noted that previous programmes had disproportionately affected women and girls, often leading to girls dropping out of school.
While acknowledging that the International Monetary Fund (IMF) Chief Mission to Ghana has promised to consider vulnerabilities in the new structural adjustment programme, Prof. Darkwah stressed the importance of ensuring that women’s needs are genuinely addressed.
NETRIGHT, with the support of Open Society-Africa, is implementing a two-year advocacy initiative titled “Empowering Women for Change: Advocating for Gender Transformative Social Policies” through Feminist Mobilizing in Ghana. This project aims to mobilize and empower a broad constituency of women across the country to drive systemic change by demanding gender-transformative social policy making.
By uniting diverse groups of women, this initiative seeks to foster a sustainable shift towards policies that genuinely support and promote the growth of women’s businesses, ensuring economic justice and empowerment for all women in Ghana.
Source: GNA
