Roots Of Change: Breaking Down The Barriers To Financial Inclusion For Rural Women In Ghana And DRC

On 15th September 2021, a momentous learning conference was held to mark the completion of Opportunity International UK’s Roots of Change programme at the Alisa Hotel in Accra. Roots of Change was a three-year programme (2018-2021), funded by the UK Government. It used innovations in training, technology and gender awareness to increase financial inclusion and build livelihoods for women in Ghana and the Democratic Republic of Congo (DRC).

The conference gathered practitioners, funders and change-makers including representative from the Ministry of Gender Children and Social Protection,  FCDO Ghana, the Executive Secretary of Ghana Association of Savings and Loans Companies Mr Tweneboah Kodua Boakye, representatives from Banks and Savings and Loans Companies, and Non-Governmental Agencies such as Esoko, GIZ, and AFC to share knowledge and lessons learnt in working with rural women to break down gender barriers as they strive to build sustainable livelihood.

Madam Maria Koramoa, the Country Head for Oikocredit and Guest Speaker for the event offered inspiration and shared knowledge on the core theme of the conference: “ Working with rural women to overcome barriers to financial inclusion and women economic empowerment”.  She emphasised in her keynote address that, ‘today more than ever, the global economy needs women to be part of the solution in building back better as economies strive to recover from the on-going pandemic and the ever-increasing challenges of climate change.

Madam Koramoa urged participants to tackle socio-economic norms and legal and regulatory inequities such as collateral requirements that prevent women from accessing financial services, training and business opportunities to help advance women economic empowerment for the benefit of the family, community and nation at large.

By August 2021, these targets have been repeatedly exceeded – more than 15,000 women have been trained and over 12,000 rural women had opened savings accounts. It is estimated that 40,000 additional jobs have been created as a result of the UK government-sponsored programme. This immense success can be largely attributed to the programme’s implementing partners who adapted their strategies to overcome the challenges presented by the global pandemic.

The training was a cornerstone of the Roots of the Change programme. Training in financial literacy and digital financial services gave women the trust, skills, knowledge and crucially confidence they needed to access financial services and independently manage their finances. A bespoke curriculum of gender awareness training for nearly 2,300 male community leaders and spouses, as well as the women themselves, served to enhance mutual understanding and enable a shift in mentality towards (and within) rural women. Training in good practices in agriculture has led to increased yields and income for women.

By: Peacefmonline.com/ghana