In a significant stride towards economic gender parity, the Menaye Finance Initiative has launched a series of financial literacy workshops aimed at empowering women entrepreneurs in Ghana. Funded by the Economic and Social Research Council under UK Research and Innovation and in collaboration with the University of Leicester, this initiative seeks to address the financing gap faced by women-leading and women-owning Small and Medium-sized Enterprises (WSMEs) in Ghana.
Dr. Priscilla Vitoh, the project lead for the Menaye Finance Initiative, emphasized the value of the workshops: “These workshops provide a golden opportunity for women who own or lead small businesses to either learn or enhance their knowledge on essential skills for business financing. It’s about building a solid foundation that will help sustain and grow their enterprises.”
Background: “Menaye” – Empowering “My mother is good.”
Inspired by the Fante word “Menaye,” which translates to “My mother is good,” the Menaye Finance Initiative embodies the spirit of nurturing and strength inherent in Ghanaian motherhood. It aims to extend these qualities into the business arena, where women entrepreneurs can significantly contribute to the nation’s economic growth. The initiative partners with notable entities, including British Council Ghana, Ashesi University, Social Entrepreneurship Hub, Reformation Community, A.B Boateng Law, and AfroPark.
Workshop Details: Navigating Finance for Growth
The workshops, themed “Navigating Finance for Growth,” are scheduled to take place across major cities in Ghana:
– Kumasi: 12th of September at Central Arena, Kejetia Market.
– Takoradi: 17th of September at the SSNIT Conference Room.
– Accra: 26th of September at the British Council Auditorium.
Key Workshop Highlights
Understanding Bank Financing
Participants will learn how to secure bank loans, enhance their creditworthiness, and build effective banking relationships to access traditional funding sources.
Exploring Alternative Financing
The initiative will also provide insights into non-traditional funding sources, such as networking for financial support and navigating the grant application process.
Practical Financial Management Tools
A significant focus will be training the attendees on using MoneyMate, an app developed by the initiative specifically to aid women entrepreneurs in responsibly managing their finances.
Legal Aspects of Financing
Workshops will cover essential legal guidance on navigating loan agreements, understanding the implications of collateral, and other crucial business operations to support and sustain growth.
Who Can Attend?
The workshops are designed for any woman who leads or owns a small or medium-scale enterprise (SME). Whether these businesses represent full-time employment or a side hustle, the knowledge imparted in these workshops can significantly enhance the business acumen needed to succeed.
Networking and Growth Opportunities
These workshops are not just about learning but also about connecting. They offer invaluable networking opportunities with professionals like bankers and lawyers and a platform to connect with fellow women entrepreneurs. These interactions are designed to foster informed financial decision-making while building a supportive business community and network that promotes robust growth for women entrepreneurs.
How to Join
Interested participants can find more information at https://bit.ly/menayebusinessclinic and can register for the Menaye Business Clinic in Accra at https://bit.ly/menayeaccra and in Takoradi at https://bit.ly/menayetakoradi.
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