Member of Parliament for the Klottey Klorley constituency Zanetor Agyeman-Rawlings has advised all women anticipating the establishment of the Women’s Bank to be ready to acknowledge it’s existence as a financial institution with laws that regulate it.
Agyeman-Rawlings in an engagement with happyghana.com’s Kobina Baidoo, revealed that women are not prioritized by many financial institutions in Ghana. This concern, she says was marked as a major reason the NDC-led government championed the initiative.
“The informal sector is dominated by women but they have very little access to the financial sector and money to build on their businesses.”
The MP noted that all women who request support from the bank must follow due process and adhere to the timelines given by the Women’s Bank to settle all debts owed to the bank.
She noted that anyone who violates the laws of the bank or is recognized as a defaulter will face heavy sanctions. “…like in any other financial institution, defaulters will be held accountable. There are sanctions in place and the law will take effect. So I don’t think the rules apply differently whether it’s a women’s bank or it’s not. Borrowing money from the bank is not just like borrowing money from a susu group.”
