Absa launches She Business to offer Ghc2m in collateral-free loans to women entrepreneurs
In a move to address the gender financing gap, Absa Bank Ghana LTD has launched ‘She Business’, an update to its women’s banking proposition that offers collateral-free loans of up to GHc2 million at 10% per annum to eligible female entrepreneurs.
The initiative forms part of the bank’s broader effort to help close Ghana’s estimated $6.1 billion MSME credit gap.
“Today’s launch is not just about updating our proposition. It is a statement of our intent to help women entrepreneurs take advantage of real business opportunities,” said Dr. Edward Nartey Botchway, Managing Director of Absa Bank Ghana LTD.
“For us, it is a compelling opportunity to implement a system that helps MSMEs thrive.”
She Business has been developed on the successes chalked by EMERGE, Absa’s programme tailored for women-led enterprises, which disbursed over GHc800 million in funding.
The refreshed offering combines financial access with advisory services, business insurance, market access opportunities, networking platforms, international trade trips, and more.
In addition, Absa also offers collateralised loans of up to $1 million for established SMEs customers, including women-owned businesses, looking to scale further.
Audrey Abakah, Director of SME Banking and Partnerships at Absa Bank Ghana, outlined the strategic evolution of the updated proposition.
“Our approach is based on what women told us they value most: practical support, affordable credit, and a bank that sees their potential and stands with them at every stage of growth. She Business is designed to deliver on all those needs.”
Gottfried Odamtten-Sowah, Head of Entrepreneurship Development at Mastercard Foundation Ghana, added:
“It is an honour for the Mastercard Foundation to stand with Absa Ghana in this endeavour. We are committed to forging strategic partnerships that address the barriers women entrepreneurs face, and to creating sustainable pathways for young women and their businesses to flourish.”
The launch event brought together women business owners, corporate leaders, and policymakers, with representation from the Mastercard Foundation, Hollard Ghana, Telecel Ghana, DHL Group, Ghana Export Promotion Authority (GEPA), and Development Bank Ghana (DBG).
As part of the launch, Grace Amey-Obeng, Founder and CEO of FC Group of Companies; Abigail Amma Afriyie Abora, CEO of Aide Chemists Ltd; and Freda Sarkodie Donkor, CEO of FH Depot, were unveiled as official Champions of Absa She Business.
