Business Development Minister, Dr. Mohammed Awal, has revealed that the government will increase loan granted to young women in entrepreneurship activities to GH¢50 million.

Dr. Awal said the increment will kick-start in 2021 and continue under the Akufo Addo led New Patriotic Party  administration.

He made this known while presenting an amount of GH¢3million to 69 young women entrepreneurs in Accra on Wednesday, August 19, 2020.

According to him,the reason for the increment was based on the fact that, women are powerful producers and can produce goods in larger quantities.

“From next year, government will spend 50 million cedis every year to support women entrepreneurs in this country. We are very confident in Akufo-Addo and NPP victory”.

The women who received the money are in the field of Trade and Commerce, Fashion & Beauty, ICT, Services, and Agribusiness.

Dr. Awal added that,women create 70 percent of consumer expenditure and thus should be supported to help grow the country.

He further encouraged business owners to employ more women and also allow them to occupy top managerial positions.

“I want to make a humble appeal to business owners and leaders in government businesses and organizations, only 25% of women in this country are in executive member position and boards. This is not good for us. We need to have a policy to ensure that women are encouraged to go up the ladder in corporate business at least 50% of women should be in executive member positions in corporate businesses so they can help grow this country”.

Paa Kweku Eshun Talksafrica.com