Gender activists have said the women’s economic empowerment policies outlined by the ruling New Patriotic Party (NPP) and the main opposition National Democratic Congress (NDC) are laudable and progressive.
In the lead-up to the December 2024 general elections, the NPP and NDC have outlined their plans for advancing women’s economic empowerment.
The NPP proposes a Women’s Trade Empowerment Fund, while the NDC pledges to establish a Women’s Development Bank. Both policies aim to increase women's access to financial resources and business support across the country and have sparked conversations among women’s rights activists.
Gender activist and Executive Director of Life Again (a Non-Governmental Organization), Saudatu Mohammed, commended both initiatives, calling them “laudable and progressive.”
She noted that nearly half of Ghanaian businesses are women-owned, referencing a 2020 MasterCard report showing 46.4% of Ghanaian businesses owned by women.
“So we have a lot of women running businesses in the country, almost 50% of businesses in the country are owned by women, but most of these businesses are small or medium-sized. So, having initiatives like this will help these women to grow their businesses, to make them bigger and more sustainable,” she observed.
Despite her support for both proposals, Madam Saudatu expressed concerns about their implementation, drawing from the example of the Agricultural Development Bank (ADB), which was originally intended to support farmers but now operates much like a commercial bank with high-interest loans and collateral requirements for its intended customers, the farmers.
She expressed fears that the proposed Women's Development Bank could similarly deviate from its mission if not properly regulated.
“One of my fears is that at the end of the day, we have, for instance, a women's development bank that is not serving the purpose, a women's development bank that is still giving loans to women at rates as high as any bank, a women development bank that would not change their processes to favour women, and all of that,” she said.
Madam Saudatu also raised concerns about potential political bias in the administration of the funds saying, “Because of the possibility of it being political, it would only serve some groups of women who probably have political affiliation with these parties, the political parties.”
She urged the political parties, if any of them eventually wins, to be intentional about achieving the objective of the initiatives and ensure that they are implemented transparently and inclusively.
Linda Dassah, another gender equality activist, shared the sentiment that both proposals are promising but voiced reservations about their viability, especially in light of Ghana’s economic challenges and history of policy inconsistency.
Miss Linda expressed doubts about the feasibility of a dedicated Women Development Bank or Trade Fund, pointing to potential challenges with sustained funding and corruption.
“Some challenges I see in the implementation of these policies would be sustained funding. Of course, considering how many times when these parties get to power, they go to the IMF for loans, I'm thinking about how they are going to structure these policies or proposals.
Another issue I see is corruption and bribery when it comes to the management of funds. We can all attest to the level of corruption and bribery that comes into play when these political parties get into power,” she noted.
She called for accountability and transparency mechanisms to ensure effective implementation and management of the funds, should the parties go forward with these initiatives following their election.
Miss Linda further suggested that the parties conduct thorough research, consulting women entrepreneurs directly on how they would benefit from and engage with the proposed fund or bank.
“If they really want this to work, they need to involve women at the grassroots level to understand their needs and structure the policies accordingly,” she advised.
As the general elections approach, these proposals underscore the commitment of both parties to address women’s economic empowerment, a priority that could influence voter turnout and voting patterns, especially among Ghanaian women.
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