Standard Chartered Bank & GCIC Empowers Female Entrepreneurs in Ghana

• Standard Chartered Bank has made a collaboration with Ghana Climate Innovation Centre (GCIC) of Ashesi University
• The alliance has inducted the women-owned businesses’ fifth cohort into Futuremakers Women in Tech programme

In collaboration with the Ashesi University's Ghana Climate Innovation Centre (GCIC), Standard Chartered Bank, has admitted the fifth cohort of women-owned businesses into its Futuremakers Women in Tech programme.

The program, established in 2020, seeks to empower female entrepreneurs with the skills, capital, and networks required to grow their technology-driven businesses.

The programme has, since its launch, assisted 74 businesses in a diversity of sectors such as agriculture, health care, tourism, manufacturing, and education technology. A total of 21 companies have been seed-funded to the tune of US$210,000 (equivalent in cedi) to date, with the new cohort expected to benefit from an enhanced support framework designed to enhance business resilience and innovation capability.

Giving the keynote speech during the induction ceremony in Accra, Bank of Ghana Second Deputy Governor, Matilda Asante-Asiedu, emphasized the importance of bringing women more fully into Ghana's digital economy.

She said, “Technology is the fastest-moving elevator to scale, and if more women get in, the entire economy goes up with them.”

Although the country has made noteworthy strides in financial inclusion, with 96 percent access to formal financial services, as reported by the 2022 Composite Financial Inclusion Index, active engagement in the utilization of the services, especially among women and rural populations, is low.

This lacuna, Mrs. Asante-Asiedu pointed out, requires focused interventions like Futuremakers that bring not only access to capital but also the ability to leverage it effectively.

The program, which is under the Futuremakers by Standard Chartered global initiative, runs in 13 markets in Africa, Asia, and the Middle East. It brings together business training, mentorship, and seed capital, with emphasis on tech-enabled and impact-oriented businesses. The Ghana chapter is implemented in partnership with the GCIC, which undertakes recruitment, incubation, and technical support.