The Ghana National Chamber of Commerce and Industry (GNCCI) has convened a day’s capacity-building workshop for the Women and Youth Wing (GNCCI-WAY) to empower female and young entrepreneurs in the Central Region.
The initiative is to facilitate investment opportunities and advocate for policies that will assist them in growing their enterprises.
The GNCCI-WAY also prioritises access to finance, mentorship, and market entry, acknowledging these as pivotal challenges confronting women-led micro, small and medium enterprises (MSMEs) and young entrepreneurs.
Speaking at the opening of the programme, Dr Emelia Assiakwa, 1st Vice Chairperson of GNCCI, said many female entrepreneurs encountered financial constraints that impeded their operations due to strict conditions imposed by financial institutions for accessing credit facilities.
It is for this reason, she emphasised, that the GNCCI adopted robust measures to encourage Ghanaian women to establish their own businesses, thereby generating employment opportunities for others.
While advocating for increased female participation in entrepreneurship, she noted with optimism that the representation of women in the business sector had significantly expanded over the past decade.
She underscored that “women’s economic empowerment represents one of the world’s most promising investment avenues, yielding almost immediate results.
The alleviation and eventual eradication of poverty, alongside widespread unemployment, needed an initiative to empower women, who constitute the majority of the global populace.”
Mr George Smith, the Chairman of the Regional GNCCI, said women and youth in the Small and Medium Enterprises (SMEs) sector in the region faced hallenges such as limited access to startup capital, lack of affordable long-term credit, inadequate support for business registration, and insufficient opportunities for capacity development in entrepreneurship and business management.
These impediments, he asserted, had stifled the growth and scaling of women- and youth-led SMEs, often relegating them to micro-level operations.
To mitigate these challenges, he stated that the GNCCI-WAY initiative will harness technology and other digital tools to empower women and youth entrepreneurs.
He underscored the need to embrace tech entrepreneurship to break traditional barriers by facilitating round-the-clock operations, fostering creativity, enhancing decision-making, and improving access to financial services and markets.
He noted that the approach also promoted financial inclusion, enabling entrepreneurs to access loans, capital, and resources in a more efficient manner.
Furthermore, the Regional Chairman of GNCCI advocated the establishment of stronger networks and mentorship programmes that connected women and youth-led SMEs with seasoned entrepreneurs, training, and regional value chain linkages to enhance competitiveness, facilitate market access, and integrate enterprises into larger supply chains to augment their sustainability and growth potential.
Madam Benedicta Anita Mensah, Regional Manager of GNCCI, said empowered women and youth entrepreneurs made substantial contributions to economic development by creating jobs, fostering innovation, and enhancing community livelihoods.
She called for coordinated efforts from government agencies, financial institutions, and development partners to implement gender-responsive policies, provide targeted financial support, and build capacity for women and youth in the SME sector.
Speaking on behalf of the beneficiaries, Mrs Patricia Abena Kissi, the Chief Executive Officer of SDAT Consult Limited, applauded the initiative, lauding GNCCI for equipping them with contemporary business skills.
She said the programme was instrumental in addressing business gaps such as the lack of structure and resilience among entrepreneurs, alongside the necessity for stronger support systems to assist young entrepreneurs in sustaining and expanding their ventures.
In a demonstration of solidarity, the participants pledged to collaborate more closely and exchange best practices to foster mutual growth and empowerment within the community of women and youth entrepreneurs.
