UNECA Discusses Efforts to Improve Women's Access to Financial Services in Ghana

The United Nations Economic Commission for Africa (UNECA) is collaborating with Ghana to promote gender-responsive fiscal policies and improve women's access to financial services. This initiative aims to identify practical ways to strengthen gender-responsive budgeting, improve access to financial services, and provide targeted technical support to relevant institutions. A technical consultation was held to examine Ghana's existing financial inclusion policies and explore ways to make them more responsive to women's needs.

The consultation brought together representatives from government institutions, financial sector organizations, civil society, and development partners to share experiences and discuss strategies for advancing women's economic empowerment. The Director of the Policy Planning, Monitoring and Evaluation Directorate, Mrs. Florence Ayisi Quartey, welcomed the UNECA delegation and participants, describing the consultation as a valuable opportunity for stakeholders to review existing policies and identify areas requiring attention.

The UNECA team explained that its mission was to gain a better understanding of Ghana's financial inclusion systems and identify practical tools for tracking progress and building the capacity of relevant institutions. The team noted that women's financial needs were not the same, stressing the importance of developing inclusive strategies that took into account the circumstances of young women, female entrepreneurs, and women in vulnerable situations.

Participants discussed some of the challenges preventing women from accessing financial services and examined how fiscal policies could be designed to address those barriers. The discussions explored ways to make financial sector initiatives more responsive to women while ensuring that public budgeting and resource allocation took gender considerations into account.

The scoping mission is expected to culminate in a comprehensive assessment that will guide recommendations for improving gender-responsive budgeting, strengthening financial inclusion, and expanding economic opportunities for women. This exercise is also expected to contribute to broader efforts to ensure that women are better positioned to participate in and benefit from Ghana's economic development.

The Ministry of Gender, Children and Social Protection expressed appreciation for UNECA's engagement, stating that the team's expertise would be useful in strengthening the implementation and impact of programs aimed at promoting gender equality. The UNECA delegation and participants shared experiences and discussed strategies for advancing women's economic empowerment.

The initiative is expected to have a positive impact on women's economic empowerment in Ghana, enabling them to participate more effectively in the country's economic development. The collaboration between UNECA and Ghana aims to promote sustainable economic growth and development by addressing the financial inclusion needs of women.

Key points

• UNECA collaborates with Ghana to improve women's access to financial services and promote gender-responsive fiscal policies.
• Initiative aims to identify practical ways to strengthen gender-responsive budgeting and improve access to financial services for women.
• Comprehensive assessment to guide recommendations for improving gender-responsive budgeting and expanding economic opportunities for women.