In Ghana, the last decade has seen major improvements to increasing women’s financial inclusion. According to the Alliance for Financial Inclusion, formal account ownership has more than doubled, of which women’s account ownership now stands at 63% (previously 27%). However, the gender gap has doubled – moving from 6% to 11%. Interested to use more digital financial services, women in Ghana still face barriers to the formal financial system, lacking targeted products suitable for their businesses.
Committed to improving access to finance for women in Ghana, the Development Bank Ghana (DBG) has signed up to the UN Women’s Economic Empowerment Principles and has recently been accepted as the 100th member of 2X Global. As part of DBG’s gender mainstreaming strategy and roadmap, it intends to step up its effort to achieve SDG 5 – Gender Equality.