Patriots Ghana organized a women’s conference on March 28th, 2024, the aim of fostering its vision of achieving financial independence for women in Ghana, especially those in rural areas engaged in Agribusiness. The conference, Themed “The Role of Women in National Development,” was attended by over 80 women who are beneficiaries of the organization’s “Women Entrepreneurs and Financial Literacy Initiative (WEFLI) project. The conference, funded by Otto Per Mille, was attended primarily by women from rural communities in the Central Region, including Akuful Krodua, Osae Krodua, Bentum, Ayiresu and Odotom.
The Gender Inequality Index, focusing on a combination of health, economic empowerment, and labor market participation factors, ranks Ghana 130 out of 169 countries. These gender gaps are more pronounced in rural communities. A Patriots Ghana study in the Akufful Krodua on 100 residents (58 females and 42 males) revealed that 90% of the community is engaged in agribusiness, with 49% of respondents attributing business challenges to lack of financial resources and 33% to low production and revenue. This data is consistent with the Ghana Statistical Service census, indicating that 75.8% of the Awutu Senya district is engaged in crop farming and 53.8% in related occupations. More than half (52.9%) of the Akufful Krodua population of 1,288 are women. (Ghana Statistical Service, 2010).
Moreover, 51.7% of the population over 11 years of age is illiterate in English. Furthermore, women encounter significant challenges in managing their businesses, as well as in attaining greater gender equality. In addition to pervasive socio-cultural beliefs, a lack of knowledge and skills impedes their social and economic empowerment. As a result, women engaged in agricultural businesses are unable to access digital financial services, record information related to expenses and budgeting, learn about new financial opportunities or access other financial services that require a basic level of literacy. In rare situations where loans are accessed, they have high interest rates, leading to defaults and business collapse. As the population remains unbanked, with limited access to credit, low productivity, and vulnerability to inconsistent climate forces, the effects of this lack of financial inclusion are multiplied over time.
Since 2014, in response to addressing major economic barriers impacting women in rural Ghana, the organization launched the WEFLI project in Akufful Krodua in the Central Region of Ghana to provide not only flexible loans with very little interest to women in Agribusiness but also developed bi-weekly financial literacy training, business development, savings, and marketing strategies to set these women up for success. Over the years, Patriots Ghana has developed close and family-based relationships with beneficiaries, which has contributed to a successful project – all beneficiaries repay their loans and take new loans without stress.
At this conference, the old beneficiaries shared their experiences with the new (40 women) and emphasized how they have benefitted from the project, the importance of staying truthful with the microloans, especially given the flexibility and good intentions of the project, and its long-term impact on other women who are yet to benefit from the WEFLI project.
Additionally, other high-ranking women leaders, including the Municipal Chief Executive of the Awutu Senya East Municipal Assembly, Hon. Anita Love Obo Amissah, used the opportunity to share encouraging messages that inspired the women to remain hopeful, strategic, and goal-oriented in the utilization of the funds to achieve financial freedom and wellbeing for themselves and their families.
The Founder and National Coordinator of Patriots Ghana, Dr. Eric Opoku Agyemang, shared his appreciation to the women for their dedication and commitment to advancing their financial independence, support for their families, and contribution to community’s development, and reaffirmed the organization’ commitment to supporting them in growing their businesses, their families, and their general wellbeing.
The projects coordinator, Evans Sagoe, wrapped the conference, sharing details of the funds, handed funds to 40 new beneficiaries, and answered any questions surrounding the loan repayment, dates for financial literacy trainings, and the “Brainy Keepers” project aimed at training their children to maintain accurate bookkeeping and accounting records to sustain their businesses. The Patriots Ghana team expressed their appreciation to Otto Per Mille for funding the conference and training components of the projects.
Reported by
Patriots Ghana Team
