Development Bank Ghana (DBG), in partnership with Advans Ghana Savings & Loans, has committed GHS 14 million in additional funding to the AdvansHer programme in a move to support and empower women entrepreneurs across Ghana.
This initiative aims to provide targeted financial and technical support to women-led businesses through the SME-GO programme, as well as specialized capacity-building resources. Designed to address the unique challenges female entrepreneurs face, the AdvansHer programme stands as a powerful step toward bridging the financial inclusion gap and advancing gender equality within Ghana.
The SME Growth and Opportunity (GO) programme, a key part of DBG’s mandate, is geared toward accelerating high-potential small and medium-sized enterprises (SMEs) across Ghana. Coordinated by the Ministry of Finance and the Ministry of Trade and Industry, this initiative provides a comprehensive support package, including capacity-building sessions, financial resources, and mentorship opportunities.
Michael Mensah-Baah, Deputy CEO of DBG, underscored the value of this partnership with Advans Ghana, stating, “DBG’s partnership with Advans Ghana under the SME GO programme is a testament to our mission to create a sustainable and inclusive economic environment. By addressing financial access, capacity building, and mentorship, we empower women entrepreneurs and SMEs across the country to reach new heights, contributing to economic growth and resilience.”
Capacity Building and Financial Literacy
The AdvansHer programme is structured to offer far more than just funding. It also includes a robust financial literacy component aimed at building skills that are essential to business sustainability, such as cash flow management, budgeting, and strategic decision-making.
Through this programme, DBG and Advans Ghana plan to equip over 200 women entrepreneurs with these critical business skills. The overall goal is to build a supportive ecosystem that allows women-led SMEs to thrive, helping them overcome the structural and financial barriers that often hinder their growth and expansion.
Since its inception about three years ago, DBG has emerged as a crucial financial partner in Ghana’s private sector. Committed to bridging financial access gaps, the bank has so far disbursed over GHS 1.5 billion to support Ghana’s private sector, with GHS 511 million directed specifically towards women-owned or women-led businesses.
Over the next two years, DBG aims to disburse an additional GHS 500 million to further strengthen women-led enterprises. This aligns with DBG’s broader vision to support over 1,000 women-owned or women-led businesses within its first five years of operation, providing a foundation for long-term economic growth and financial inclusion across the country.
Advans Ghana’s Commitment to Women Empowerment
Guillaume Valence, CEO of Advans Ghana, highlights the significance of the AdvansHer programme and the collaborative commitment to uplifting women in business.
“At Advans Ghana, we believe in the power of financial inclusion as a catalyst for economic growth and social development, and we recognize the pivotal role women entrepreneurs play in driving Ghana’s economic development. Currently, over 61% of our loan clients are women. Thus, the AdvansHer programme is designed to tackle the unique challenges faced by women through education (Financial Literacy Training), access to tailored financial products like our Edusave, and support for women entrepreneurs (Networking opportunities, Coaching & Mentorship) to help upscale their business.”
Guillaume Valence
Meanwhile, the partnership between DBG and Advans Ghana signals a new wave of support for women in business. The additional GHS 14 million in loans offers a critical financial lifeline to many women entrepreneurs who otherwise struggle to access affordable capital. The AdvansHer programme also introduces specialized business tools and resources to help these entrepreneurs make strategic business decisions, manage cash flow effectively, and build sustainable business models that can adapt to the evolving economic landscape.
Through initiatives like AdvansHer, DBG and Advans Ghana are fostering a more inclusive economy where women-led businesses are not only supported but are given the tools they need to thrive. The investment in women entrepreneurs is an investment in the nation’s economic future. As Mensah-Baah expressed, “Through initiatives like AdvansHer, we are strengthening the economic foundations of women-owned businesses and, in turn, creating a stronger, more inclusive Ghanaian economy”.
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