The Ghana Venture Capital and Equity Association (GVCA) presented its approach to accelerating action on gender equality at the recent National Women’s Summit, held by Charterhouse and MTN for International Women’s Day.
Chief Executive Officer of GVCA, Amma Gyampo, emphasised the industry association’s commitment to policy and regulatory reform and professional development services designed to enable more women to participate fully in finance, business, and economic development.
Mrs Gyampo stressed the importance of gender-smart initiatives and financial literacy to enable more women to navigate the various range of financing options available beyond prevalent high-interest loans, especially for successful female entrepreneurs focused on scaling and job creation.
She pointed out that women remain underserved by traditional financial institutions, missing opportunities to access working capital and expansion capital.
“When women succeed in business and finance, it benefits their families, society and our local economies, but they are often overlooked or not adequately supported”, Mrs Gyampo said.
Leveraging Religious Institutions for Financial Education
Mrs. Gyampo also encouraged churches and religious institutions to promote economic development and financial literacy within their communities.
“Wouldn’t it be great to see more angel investing networks and investment clubs to help women and young people network and learn about business growth?” she asked. These platforms can empower women with the knowledge needed to scale businesses and create wealth within their communities.
She also encouraged women to use online tools like Built Accounting, Kudigo and Fido to access loans and tools to keep records and manage their businesses, adding that financial literacy can be enhanced by leveraging simple technology and effective networking.
Sustainable Business Models and Cross-Border Enterprises
Mrs. Gyampo noted that the success of local businesses like HomeFoods, Meannan, and Hubtel should serve as local inspiration and models for entrepreneurial growth for women and young entrepreneurs whom she encouraged to learn how to identify local challenges and develop scalable business models to serve the unmet needs of the masses.
“We need to help women understand the responsibilities that come with receiving equity investment, and we need to get more women into the investment industry as fund managers, investment committee members and growth-driven founders scaling across borders,” she said.
Policy Reforms to Support Women Entrepreneurs and Institutional Investment Professionals
Mrs. Gyampo urged policymakers to work with GVCA to create an enabling environment for women to scale their businesses to the next level.
She emphasised the need for policy and regulatory reform to increase local currency venture capital and private equity investment funds available in Ghana to support the growth of businesses led by, and employing women in dignified and fulfilling work, as well as to attract more investment to the country.
A Collective Effort for Women’s Economic Empowerment
The 7th National Women’s Summit: “Accelerate Action: Overcoming Barriers for Women in Corporate and Public Sectors,” featured several prominent speakers, including Sheila Minkah-Premo (Affirmative Action Coalition), Janet Sunkwa-Mills (Executive Women’s Network), Angela Mensah-Poku (MTN), Delores Frimpong-Manso (Delay) and Maidie Arkutu (Nestle).
The summit highlighted the barriers women face in business and leadership roles and underscored the importance of marketing, education, growth-stage financing and quality in driving business success.
As Ghana works to become a leading VC/PE investment hub in West Africa, strengthening the capacity and eepening the collaboration between institutions like Venture Capital Trust Fund (VCTF), Ghana Venture Capital Association (GVCA), Impact Investing Ghana, National Pensions Regulatory Authority (NPRA) and Securities and Exchange Commission (SEC), are critical to the empowerment of high-growth female founders through the mobilization of local impact and venture capital. With the right policies and macro-economic environment, Ghana can unlock the potential of women-led businesses, for sustainable economic development.
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