Many market women still lack access to basic banking systems - Veep

The Vice President of Ghana, Prof Jane Naana Opoku-Agyemang, has called for a fundamental rethink of how financial systems engage women in the informal economy, arguing that market women and small-scale entrepreneurs, who sustain local economies across Africa, continue to be shut out of the formal financial system.

Speaking at the 2026 Oxford Africa Conference at the University of Oxford in the United Kingdom on Saturday, May 16, 2-26, the vice president said women have historically driven economic activities across African societies but remain constrained by financial systems that are not designed with them in mind.

"Many women have long been visible in our markets, but strangely invisible on our balance sheets. Market women are resilient, productive, business-minded and often highly informed about the direction of their countries.

"Yet many of them remain constrained by systems that measure creditworthiness primarily through collateral — of which these women do not have. Though they do not lack discipline or commercial instincts, the scale at which they operate is often considered too informal, risky or small for traditional banking systems to engage," she said.

Prof Opoku-Agyemang stressed that the financial needs of most women in the informal sector are not extravagant, but that even modest support remains out of reach for many.

"In practice, many women are not seeking large commercial loans. They require relatively modest capital at the right moment to begin trading in foodstuffs, household goods, agricultural produce and other forms of small-scale commerce that sustain households and circulate income within local economies. Yet even these small sums remain out of reach," she added.

She pointed to the Women's Development Bank as a key instrument in addressing the gap, describing it as a targeted intervention designed to bring financial access to women who have long been overlooked by traditional banking.

The Oxford Africa Conference, now in its 16th edition, was held from May 16 to 17, 2026, at the Andrew Wiles Building of the University of Oxford.

This 2026 edition is themed "Anchoring Africa: Grounded Leadership in the Age of Disruption," with discussions centred on how African leadership and institutions can respond to global challenges including economic uncertainty, technological change, climate change and shifting geopolitical dynamics.

The conference is organised by the Oxford University Africa Society, a student-led platform that convenes policymakers, scholars, entrepreneurs and global leaders to discuss Africa's development and future.

ID/AE

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