Stanbic Bank Ghana has launched a new women-focused banking proposition, ‘Obaa Sima’, aimed at expanding access to finance and business support for women across the country, particularly those operating within the informal sector.
The product was unveiled on the theme “Unlocking the Strength of a Woman,” attracting regulators, development partners, clients, and senior executives of the bank.
The initiative comes at a time when women remain central to economic activity in Ghana but continue to face structural barriers in accessing capital.
Available data shows that women-owned businesses contribute about 44 percent of the country’s Gross Domestic Product (GDP), yet many struggle to secure formal financing due to limited collateral, smaller business scale, and restricted access to tailored financial products.
Delivering the keynote address, Mrs. Matilda Asante Asiedu, Second Deputy Governor of the Bank of Ghana, underscored the broader economic importance of empowering women through inclusive financial solutions.
She said the Obaa Sima solution reflected a well-thought-out response to the real needs of women in Ghana’s economy, particularly those driving activity in trade, agriculture, and emerging digital enterprises.
Mrs. Asante Asiedu described the launch as both symbolic and strategic, noting that beyond introducing a financial product, it reinforced the long-standing truth that empowering women strengthens households, communities, and the national economy.
She highlighted the indispensable role women play across value chains, noting that they were central to economic activity from major markets to agribusiness value chains and emerging digital enterprises.
“They remain the backbone of micro, small and medium enterprises, dominating trade, agriculture, retail and increasingly services and innovation,” she said.
Mr. Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana, said the initiative formed part of the bank’s long-standing commitment to financial inclusion and economic growth.
He explained that the Obaa Sima solution was developed from a deep understanding of the unique challenges women face in accessing financing and growing their businesses.
“Today’s launch is our statement of intent, a commitment to deepen inclusion and unlock the economic potential of Ghanaian women. From the entrepreneur in Kumasi to the professional in Accra, the trader in Tamale and the young innovator building tomorrow’s enterprise, we are committed to supporting their growth,” he said.
Mrs. Nana Oye Bampoe Addo, Deputy Chief of Staff in charge of Administration, commended the bank for adopting a targeted approach to addressing the financing gap facing women.
She said improving women’s access to finance required more than just credit, stressing the need for advisory services, capacity building, and sustained engagement.
According to her, the Obaa Sima solution demonstrated what was possible when financial services were aligned with the real needs of women-led businesses, while calling for stronger collaboration among financial institutions, government, development partners, and the private sector to remove structural barriers.
Her remarks come against the backdrop of persistent challenges in Ghana’s financial ecosystem.
With about 92 percent of women engaged in the informal sector, many rely on informal financing channels, which often limit their ability to scale and compete.
Studies by international development institutions and national statistical data indicate that nearly 58 percent of women entrepreneurs cite lack of funding as their biggest constraint.
The Obaa Sima solution seeks to address these gaps through a combination of financial and non-financial support.
These include access to the bank’s business incubator for capacity building and financial literacy, opportunities to expand through international trade corridors, and advisory services and tailored financial products designed to support both business and personal financial growth.
