Hon. Dorcas Affo-Toffey, the Member of Parliament for the Jomoro constituency in the Western Region, is urging Parliament to make women’s economic empowerment and financial literacy a top priority, highlighting the vital role women play in Ghana’s economy.
As a staunch advocate for women’s empowerment, she pointed out that Ghanaian women, who own approximately 44% of businesses and contribute 20% significantly to GDP, still face significant obstacles in accessing credit. These challenges include collateral requirements, high interest rates, and limited financial education.
Hon. Affo-Toffey took to the Parliament floor to express her appreciation for the government’s allocation of funds to the Women’s Development Bank in the 2025 budget.
This initiative aims to provide affordable credit and business support to women, empowering them to contribute to Ghana’s economic growth. Citing successful models like India’s Self-Help Groups and Bangladesh’s Gastroen Bank, she emphasized that financial inclusion is a key driver of economic growth and poverty reduction.
While acknowledging the importance of access to finance, she stressed that financial literacy is equally crucial for women’s economic empowerment.
She called on the government and financial institutions to go a step further by implementing comprehensive nationwide financial literacy programs, providing business development training, and strengthening policies that promote inclusive financing for women.
Hon. Affo-Toffey emphasized that empowering women is crucial for Ghana’s economic advancement, stressing the need to dismantle financial obstacles and create an enabling environment for women to contribute fully to the country’s economic growth.
