In a move targeted at economic empowerment among women traders, Vice President Dr. Mahamudu Bawumia announced the establishment of a Women’s Trade Empowerment Fund if he is elected in the upcoming presidential elections.
Speaking at the Kaneshie market during his campaign tour of the Okaikoi South Constituency, Dr. Bawumia outlined the fund’s primary objective, which is to facilitate easier access to financial resources for female entrepreneurs, particularly those engaged in small to medium-sized enterprises.
His proposal for a Women’s Trade Empowerment Fund will be compared to the Women’s Bank initiative that the National Democratic Congress plans to implement if it wins the December elections.
The flagbearer for the New Patriotic Party (NPP) said that the initiative is a direct response to the financial hurdles faced by women traders in Ghana. The fund, he noted will provide a range of financial products designed to support business growth and sustainability. By targeting women who have historically been underserved by traditional banking systems, his future government aims to foster an environment conducive to economic independence and business success.
The fund’s structure will include low-interest loans, grants, and training programmes to equip women with essential business skills. This multifaceted approach is intended to address both immediate financial needs and long-term business development. Dr. Bawumia added that the initiative will prioritize sectors where women predominantly operate, such as retail, agriculture, and textiles.
He argued that enhancing women’s access to funding not only boosts individual businesses but also stimulates overall economic growth.
