Financial assistance for Women advocated

Financial assistance for Women advocated
The Ghanaian Times, Friday, June 20, 2008. Page 27 (Business News)
Augustine Cobba-Biney

The surest way for Africa’s economic development is to offer more financial assistance to women, says Theopista Sekitto, Wholesale Manager of the DFCU Bank in Uganda.

She pointed out that women are better financial managers and more accountable, transparent, trustworthy and thus must become the focus for the development of the African financial sector. Mrs. Sekitto was addressing an international partnership forum on the topic, “Making finance work for African women,” in Accra on Wednesday.

Over 200 leaders of African and international financial institutions, government officials, central banker, researchers and experts attended the forum to discuss priorities for development of the African financial sector.

Mrs. Sekitto noted that women entrepreneurs are a dynamic and powerful economic force in society today. “There are increasing numbers of women entrepreneurs who are committed to the success of business,” she said.

Mrs. Sekitto stated that women are better advocates than men and had better repayment culture. “Women are better payers, more committed, focused in terms of meeting their obligation. They buy less on price than service and will pay more for convenience of service,” she said.

In Uganda for instance, she said 39 percent of all registered businesses are owned by women. Mrs. Sekitto stressed the need to recognise the potential of women and offer them the needed assistance to increase productivity and enhance progress. “If we are to build a just society where everyone had the opportunity to fulfill their potential, women have to be supported fully,” she said.