Women in Entrepreneurship: Ghana sets record; takes 2nd place globally - MIWE
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Women in Entrepreneurship: Ghana sets record; takes 2nd place globally - MIWE

Global ranking of countries with most women entrepreneurs according to the latest Mastercard Index of Women Entrepreneurs (MIWE) has revealed that Ghana has placed second.

The annual Mastercard Index of Women Entrepreneurs found that nearly 4 out of every 10 business owners in Ghana were women after Uganda placed first.

The report which assessed 58 countries globally, highlighted some challenges of women business owners in sub-Saharan Africa, which include disparity in access to the internet and technology, barriers to accessing funding, restrictive cultural and social norms among others.

According to the report, despite being undermined by the prevalence of such disparities and inequalities, women’s determination to start their own business in these Sub-saharan markets is nearly at the same level as men.

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“More importantly, it brings to light how much more women can contribute economically and socially if such barriers are removed, or systems improved,” the report said.

In sub-Saharan markets including Ghana, women tend to start businesses out of necessity.

The report further stated that Ghanaian women continue to flourish in women’s advancement outcomes, including high labor force participation (89.0, Rank 4), women business leadership (37.2% of total, rank 11) and surpassing their male counterparts in engaging in entrepreneurial activities.

“Their ability to thrive in these aspects explain their particularly high standing in society as business owners, despite poor underlying entrepreneurial supporting factors,” the report added.

Compared to their regional peers in Malawi, Uganda, and Angola, women in Ghana tend to be more inclined to have a bank account, likely due to their higher level of engagement in business activities. For instance, nearly 40 percent of women in Ghana have an account at a bank or financial institution compared to only around 20% in Angola, Malawi, and Nigeria

READ ALSO: Menzgold lawyers deny knowing about payment schedule

In other news, information reaching YEN.com.gh indicates that the lawyers for defunct gold dealership firm, Menzgold say they are unable to undertake the payment of customers as instructed by the company.

On Wednesday, Menzgold announced that it was commencing payment of customers from Friday, December 27, 2019; a process that would span a 36-month period.

However, Kwame Akuffo & Co. in a press statement said it has informed the Client [Menzgold] that the firm does not have the capacity to carry out the said exercise.

READ ALSO: Menzgold sets December 27, 2019 as date for payment to clients

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Source: Yen.com.gh

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