Absa offers GH¢2m collateral-free loans to women entrepreneurs

In a move to address the gender financing gap, Absa Bank Ghana has launched “She Busi­ness”, an update to its women’s banking prop­osition that offers collateral-free loans of up to GH¢2 million at 10 per cent per annum to eligible female entrepreneurs.The initiative forms part of the bank’s broader effort to help close Ghana’s estimated $6.1 billion MSME credit gap.

“Today’s launch is not just about updating our proposition. It is a statement of our intent to help women entrepreneurs take advantage of real business op­portunities,” Dr Edward Nartey Botchway, Managing Director of Absa Bank Ghana, said.“For us, it is a compelling opportunity to implement a sys­tem that helps MSMEs thrive,” he stated.



“She Business” has been de­veloped on the successes chalked by EMERGE, Absa’s programme tailored for women-led enterpris­es, which disbursed over GH¢800 million in funding.The refreshed offering com­bines financial access with advi­sory services, business insurance, market access opportunities, net­working platforms, international trade trips, and more.In addition, Absa also offers collateralised loans of up to USD 1 million for established SMEs customers, including wom­en-owned businesses, looking to scale further.

Audrey Abakah, Director of SME Banking and Partnerships at Absa Bank Ghana, outlined the strategic evolution of the updat­ed proposition.“Our approach is based on what women told us they value most: practical support, afford­able credit, and a bank that sees their potential and stands with them at every stage of growth. “She Business” is designed to deliver on all those needs.

” Gottfried Odamtten-Sowah, Head of Entrepreneurship De­velopment at Mastercard Foun­dation Ghana, added.“It is an honour for the Mas­tercard Foundation to stand with Absa Ghana in this endeavour. We are committed to forging strategic partnerships that address the barriers women en­trepreneurs face, and to creating sustainable pathways for young women and their businesses to flourish,” he indicated.

BY KINGSLEY ASAREThe post Absa offers GH¢2m collateral-free loans to women entrepreneurs appeared first on Ghanaian Times..