Simplify Measure To Attract More Women Into Banking - Consultant

Accra, (Greater Accra) 18 Sept.

Accra, (Greater Accra) 18 Sept. Banks and credit agencies are to simplify their documentations to attract more women into business, a UN consultant has advocated at the sixth international women entrepreneurs conference today. Dr. Princess Nask-Odu, Consultant to UNIFEM in Lagos said women are new to banking and a greater percentage are also illiterates hence, the need to simplify lending procedures to attract them. She said moreover, ''the typical African woman does not own immovable properties to be used as security or collateral for loans, making it impossible for her to go to the bank.'' Mrs. Helen Lokko, former Director of the Ghana Commercial Bank (GCB) who chaired the function said African women need to have confidence and knowledge in order to go further in business. She said most women who borrow are able to make 100 per cent recovery. She therefore called on banks to have confidence and lend them monies even though they do not own properties. Ms Helen Diji, General Manager, Credit Management Division of GCB said her bank has started corporate group lending for women. She said group lending has been successful ''and we will continue with it since such a group can together, refund Moneys loaned them in case of default of payment by some of the group members''. The discussions centred on ''Joint Venture in Africa'' and participants were briefed on benefits that exist at the banks and stock market.