Digital tools key to unlocking funding for women-led SMEs, experts advise

Financial and business experts have urged women-led small and medium enterprises (SMEs) to embrace digital solutions to improve access to funding and drive business growth. The call was made during MTN Ghana’s SME Accelerate webinar, themed “Unlocking Funding for Women in Business,” which brought together female entrepreneurs, investors, and development partners to discuss strategies for securing financial support. 

The Access to Finance Lead and Investment Manager at Temple Investments, Seyram Ofori-Atta, in her remark, noted the importance of adopting digital financial tools such as MTN MoMo and other fintech platforms to enhance business credibility. “Consistency in using these platforms ensures accountability and makes your business more attractive to investors,” she explained. The webinar, moderated by Kokui Selormey-Hanson, highlighted how digital tools including AI and social media can help businesses structure ideas, manage finances, and gather customer insights. 

A major challenge identified was the lack of formal structure in many women-led businesses. Mimi Anane Appiah, Co-Founder of Your Investment Friends, hinted that 85% of Ghana’s workforce operates informally, with many businesses unregistered and lacking financial records. “Funding opportunities exist, but many women don’t apply due to lack of confidence or awareness,” she said, urging persistence and proactive engagement. 

Edem Attor, Partnership Officer at UNDP, also added that grants often extend beyond cash, offering technical support to strengthen business systems. Mimi Anane Appiah further advised entrepreneurs to leverage networking and soft loans from professional circles to scale their ventures. 

The webinar reinforced MTN Ghana’s commitment to empowering women in business by equipping them with practical strategies to overcome funding barriers. By integrating digital tools and formalizing operations, women entrepreneurs can position themselves for growth in Ghana’s evolving economic landscape.

By:  Nana Appiah Acquaye