. . . . Is Crucial In Building A Digitized Africa Standard Chartered Innovation And Fintech Festival
The second edition of the Standard Chartered Digital Banking Innovation &
FinTech Festival came to an end with a call for stakeholders to invest more in
programmes that will accelerate the growth of women-led businesses across the
continent.
In addition, a rallying call was made for more collaboration among banks,
fintechs, regulators and other stakeholders in the financial sector even as
participants committed to propel diversity, inclusion and sustainability in
finance with technology as the driver.
Speaking on the 2nd day, Dr. Emmanuel Kumah, Board Chairman, Standard Chartered
Ghana PLC, reiterated the bank’s commitment to lifting participation and
building a sustainable future by supporting entrepreneurs, particularly women,
through its ground-breaking initiatives. He also emphasized the need for
mentorship and funding facilities to help scale their businesses.
He said, “With a thriving start-up scheme, internet penetration of almost 50
percent, and the country having one of the highest rates of women-owned
enterprises, we believe that these sessions will provide the insights and the
opportunities for female techpreneurs looking to grow their businesses at scale
and foster a stronger and more dynamic eco-system in Ghana and beyond”.
“We at Standard Chartered Bank will continue to chart a journey towards
digitization and self-disruption in Africa while making it a priority to
harness technology, and at the same time, champion the next generation of
entrepreneurs”, Dr. Kumah added.
On her part, H.E Harriet Thompson, British High Commissioner to Ghana, lauded
Ghana’s efforts in quickly becoming a regional tech hub and a pacesetter on the
continent. She noted that “in Ghana, women are the main actors in the
country’s micro, small and medium enterprises. A sector that is the anchor on
which the economy hangs, as SMEs represent 92 percent of businesses and
contribute 70 percent of Ghana’s GDP.”
The event highlighted the need to support more women-led and women-owned
businesses through technological advancements, products and services seeing
that their contribution to economic growth cannot be overstated.
In a speech read on her behalf by Ms. Clarissa Kudowor, Deputy Director of the
Payment Systems Department of the Bank of Ghana, the Second Deputy Governor of
the Bank of Ghana, Mrs. Elsie Addo Awadzi emphasized therole women-led
businesses played in the economy and appealed to technology services to
innovate products that meet the needs of these women.
She remarked, “If we think about the critical role women play in supporting
families and livelihoods and the socio-economic life within the Ghanaian
society, then this gap of 11 percent presents a significant developmental
barrier and will require concerted policy action on all fronts.”
In the panel discussion on "Technology, Gender and economic growth:
Expanding the role of technology in women-owned business for development”, the
panelists highlighted the difficulties that women entrepreneurs face in
sourcing funding for their businesses. They concluded that getting more women
in decision-making roles would make it easier for women-led ventures to access
funding for their startups, technology to innovate their processes, and mentorship
opportunities to move them forward in a competitive marketplace.
Panelists on day two included: Ethel D. Cofie, Chief Executive Officer, Edel
Consulting; Winnifred Kotin, Co-Founder Superfluid Labs; Rachel Crawford,
Director of Special Projects at Village Capital, and Dr. Areeba Khan, Chief
Executive Officer, Taqwa Invest (UAE) and moderated by Khadija Hashimi,
Regional Head, Corporate Affairs Brand and Marketing, Africa & Middle East
The event wrapped up with members of the Women in Tech Incubator Cohort 2
sharing their experiences, the impact SCB has made in elevating their
businesses as women-led entrepreneurs, and a fintech exhibition of various
disruptive technology innovations and businesses.
The two day-long event convened thought leaders from banking, technology and
entrepreneurship to discuss how technology is reshaping enterprises on the
African continent and empowering women-led businesses in Ghana.
Source:
Peacefmonline.com/Ghana