Investing in women businesses is not charity, it is good business: Glitz Africa CEO
By Sandra Agyeiwaa OTOO
The Chief Executive Officer (CEO) of Glitz Africa, Claudia Kwarteng-Lumor, has urged Ghana’s business leaders and investors to take real action in funding women-led enterprises, stressing that investing in women is not charity but smart business.
“Investing in women businesses is not charity, it is a good business and that is what we want to talk about this morning; because when we rise, we prosper, communities prosper, families thrive and nations grow, which is what we want to get for our country,” she stated.
She made this statement while speaking at the Ghana Female CEO Summit under the theme ‘Financing the Future: Addressing Capital Access For Women-Led Enterprises and Sustaining their Growth’ as part of efforts to provide capital and support for women entrepreneurs.
According to Mrs. Kwarteng-Lumor, women entrepreneurs in Ghana face significant challenges due to being under-capitalised, under-supported and under-funded, despite their substantial presence in the entrepreneurial landscape.
“When you look at our country, most of the entrepreneurs in the country are women; but we are the people that are undercapitalised and the people who are under-supported. We are the people who are under-funded. Where is the solution to this? This is what our conversation is about,” she revealed.
She urged women leaders to empower each other through collaboration, funding and mentorship, emphasising a need for tangible action beyond the summit – adding that by supporting, funding and uplifting one another, women can drive growth and create a future that is funded, fearless and flourishing.
Dr. David Wilfred Ochan, Country Representative-United Nations Population Fund (UNFPA), in a speech called for practical solutions, advocating blended financing models that combine public, private and philanthropic funds to support women entrepreneurs.
“In this gathering, I have one key message. We can collaboratively breathe-in the combined resources of government, developing partnerships with philanthropies and the private sector to increase resources available to finance women-led enterprises and yet achieve private sector growth properly,” he noted.
“The United Nations, I mean this case is a UN population fund, can support creation of the platform to design and blend their financing as a beacon that can help achieve the goals of their society,” he added.
Dr. Ochan highlighted government’s commitment to setting up a Women Development Fund and called on the private sector to overcome the fear of risk.
“Government has already indicated its commitment to setting up the women’s-development fund. The private sector has the network and efficiency in its system to achieve the goal of financing women-led enterprises, except for the risk and need to show that they can still make a profit by being involved,” he stated.
He added that despite the clear challenges women-led businesses face in accessing funds, closing the gender gap in entrepreneurship could unlock billions of Ghana cedis in economic value.
“The challenges are clear: persistent barriers limiting women’s access to financing, mthe demand, acquiring technology and ensuring making space – yet within these challenges lies Ghana’s most significant opportunities. Closing the gender gap to entrepreneurship and economic participation isn’t just an ambition, it’s an economic imperative capable of unlocking billions of cedis and untapped value,” he revealed.
He emphasised that capital, collaboration and commitment are crucial to unlocking opportunities and driving inclusive growth. By addressing funding challenges for women-led enterprises, we can boost economic growth and create a more sustainable future.
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