Benefits of John Mahama's 'Women's Bank' promise

"Linda Davis Taylor, the former CEO and chairman of Clifford Swan Investment Counselors, once said, 'Give a woman a dollar, and she can put it to good use. Teach her how money works, and she can change the world.'

Securing financial assistance in Ghana today, whether to start or invest in a business, is daunting. The rigorous processes, the search for financial institutions, and the high interest rates often deter people from securing loans.

The situation is even more challenging for women not employed in the formal sector. Market women, such as petty traders, apparel dealers, and farmers, often find it difficult to secure loans to invest in their businesses. This has led to unequal competition and the collapse of many women's businesses. The situation worsened when the Akufo-Addo-Bawumia Government collapsed about 400 microfinance institutions, leaving women in business without hope.

However, John Dramani Mahama has promised, in his campaign, to bring relief to women in business through the establishment of the Women's Bank. This policy is one that Ghanaians, especially women, should embrace. It will be transformative for women who have faced difficulties starting or expanding their businesses.

The Women's Bank, proposed by John Mahama, will be established nationwide, offering services to women in need of loans to start or invest in their businesses. The policy's unique aspects include low interest rates and the banks' proximity to local communities, eliminating the need to travel to regional capitals for a loan. The application process will be straightforward and accessible.

The benefits of this policy include:

1.

Creation of employment opportunities.

2.

Increase in family incomes.

3.

Improvement in the standard of living.

4.

Reduction in poverty among women.

5.

Promotion of women's independence, bringing relief to their dependents, and more.

Let's support John Mahama's Women's Bank policy to build Ghana together."