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Grantees Funded under BUSAC Fund Phase I
Name of Applicant : Ghana Association of Women Entrepreneurs (GAWE)
Title of Action : Women Entreprenueurs Access to credit
Sector : Business
Geographical Area : Greater Accra
Action ID : # 0-29
Action Score : 70.75%
Total cost of Action : ¢361,197,000
BUSAC's % of Total cost : 86%
Self Financed : 14%
Action Duration : 7 months
Support from Outreach Facility : ¢-
Summary of the proposed Action : The need for the action:-
To address the issue of lack of access to credit and sufficient economic opportunity for women, who make up 80% of the bulk of the informal and formal productive sectors. It is a major contemporary problem that due to lack of credit to start or expand existing businesses, women businesses tend to experience slow growth, a major cause of poverty among women.
It is a fact that women do better at repaying loans granted to them. Ironically, it is more difficult for them to access credit.
The inability of women to access credit Is inconsistent with the millennium development declaration for halving extreme poverty by 2015. If this trend continues one wonders how Ghana will reach its target of being a middle-income country by 2010.

The proposed solution to the identified need:-
Action needs to be taken to alert the banks and other financial institutions to come out with pragmatic solutions to address the un-reasonable conditionality that makes it impossible for women to access credit, create platform for banks and stakeholders to dialogue on the problems identified, come out with pragmatic solutions to the issues of access to credit, build the capacity of the SMEs to be able to access credit promote SMEs in the informal sector to grow into formal medium and large bankable businesses.

The implementation plan:-

  • month one - baseline study to inform Advocacy action described below.
  • month two - 1. mobilization of members and GAWE’s outreach for TV and radio programs, workshops and meetings
    2. mobilization of financial institutions to react to women on radio and TV
  • month three - organization of forums for the women and the financial institutions to dialogue for pragmatic solutions to be found
  • month four - seven - service providers to be tasked to design and develop appropriate products to be mutually approved by target group & beneficiaries
  • The expected impact of the advocacy action:-
  • new code of ethics for the banks developed with regards to SMEs
  • more women have access to credits
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