DBG Supports Women-led SMEs With GHS 36 Million Financing Through Advans Ghana’s ‘AdvansHer’ Programme
Development Bank Ghana (DBG) has provided a total financing of GHS 36 million to Advans Savings and Loans Ghana to support women-owned and women-led small and medium-sized enterprises (SMEs) under the “AdvansHer”, a programme initiated by Advans Ghana Savings and Loans.
Making the disclosure at the launch of the AdvansHer programme, Deputy Chief Executive Officer of DBG, Michael Baah, posited that an initial GHS 22 million was disbursed by DBG to Advans Ghana which has subsequently been followed with an additional GHS 14 million disbursement.
Further asserting that DBG stands ready to make additional disbursements to support women-owned and women-led businesses.
“DBG’s partnership with Advans Ghana under 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. Through initiatives like AdvansHer, we are strengthening the economic foundations of women-owned businesses and, in turn, creating a stronger, more inclusive Ghanaian economy,” quipped the Deputy CEO of DBG.
Echoing sentiments expressed by the Deputy CEO of DBG on the need to support women entrepreneurs, CEO of Advans Ghana Guillaume Valence, averred, “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, access to tailored financial products like our Edusave, and support for women entrepreneurs to help upscale their businesses.
“The AdvansHer programme reflects our commitment to providing women with the tools, resources, and financial backing they need to overcome challenges and achieve sustainable growth,” he added.
The AdvansHer programme by Advans Ghana Savings & Loans, one of DBG’s key Partner Financial Institutions (PFIs), aims to address the unique challenges faced by female entrepreneurs, providing them with flexible funding and resources for capacity building.
The capacity-building component of the programme involves training women-led SMEs with essential skills in cash flow management, budgeting, and strategic business decision-making.
The financing provided by DBG falls under the auspices of the SME-GO programme coordinated by the Ministry of Finance and the Ministry of Trade and Industry.
The SME Growth and Opportunity (GO) Programme is a strategic initiative designed to accelerate the growth of high-potential SMEs across Ghana.
This programme offers a comprehensive package of financial and technical support, including capacity-building sessions, to address the critical funding constraints faced by SMEs.
DBG’s funding commitment to the AdvansHer programme reflects its broader mission to close financial access gaps faced by SMEs across Ghana as the wholesale financing institution believes in supporting businesses beyond funding by cultivating a thriving, supportive environment for the Ghanaian private sector.
The GHS 36 million financing provided by DBG to Advans Ghana is in line with DBG’s ambition of disbursing GHS 1 billion to over 1000 women-owned and women-led businesses within the first 5 years of its operations.
