Tamale-Ghana, Dec 14, GNA – Shea Network Ghana (SNG), an organisation of shea sector businesses, has called on financial institutions to create a tailor-made credit facility for women-led businesses in the shea value chain.
Mr Iddi Zakaria, National Coordinator of the SNG, who made the call, said it would help them start, grow, and sustain their ventures and access to credit facilities and lack of collateral for women-led businesses were challenges, making it difficult for women in rural and shea regions to expand their operations.
He made the call at an engagement in Tamale, which brought together financial institutions within the five regions of the north to deliberate on financing shea businesses.
The engagement was organised by OXFAM, SNG and partners.
It was part of the implementation of the Systems Innovation for Women’s Economic Empowerment (SIWEE), a pilot project implemented by OXFAM Ghana in partnership with the SNG, Peasant Farmers Association of Ghana, Mondelez and the Tungteiya Women’s Association.
SIWEE is a pioneering collaborative action learning-oriented initiative designed to catalyse and facilitate transformational change for women’s economic empowerment in nine communities from the Northern, Savannah, Western, Eastern and Upper East Regions.
Mr Zakaria solicited the support of financial institutions for women in shea businesses, who did not have collateral.
He called for a considerable loan rate from the financial institutions, adding “Although these women may not have the required collateral, they need your support.”
He said for women entrepreneurs to strive better, there was the need for financial institutions to support them with the needed capital and technical assistance to enable them launch and expand their businesses.
The SNG Coordinator noted that as a leading organisation in the shea value chain, it was providing platforms for stakeholders and actors to share industry experiences and knowledge, facilitate cooperation and promote shea usage as well as develop opportunities for stakeholders and share benefits for all.
