The Chief Executive Officer of the Pennyman Foundation, Hon. Eric Kwesi Taylor, has pledged his Foundation’s support to the government in implementing the proposed Women’s Bank policy, describing it as a transformative initiative capable of improving access to affordable financing for women entrepreneurs across the country.
According to him, the Women’s Bank, which formed part of the government’s 2024 election campaign promises, has the potential to empower thousands of women by providing accessible and affordable financial services to help them establish, sustain, and expand their businesses.
Hon. Taylor made the remarks during the 2026 Women’s Empowerment Programme held at Breman Asikuma in the Asikuma-Odoben-Brakwa District of the Central Region, where he reaffirmed the Pennyman Foundation’s commitment to supporting women through economic empowerment initiatives.
As part of the programme, he announced that the Foundation would provide startup capital and interest-free loans to more than 5,000 women across the district to enable them to either start new businesses or expand existing ones.
He explained that the intervention is aimed at reducing poverty, promoting financial inclusion, and improving the socio-economic well-being of women and their families.
According to Hon. Taylor, many women in the district continue to face significant challenges in accessing loans from commercial banks due to high interest rates and strict collateral requirements.
He noted that these barriers have prevented many hardworking women from growing their businesses, making it necessary for organizations like the Pennyman Foundation to step in with alternative financing options.
“Our goal is to bridge the financing gap by offering interest-free financial support that allows women to build sustainable businesses without the burden of expensive loans,” he said.
Hon. Taylor further disclosed that the Foundation, working in partnership with Nzuri Uhai, has over the years implemented several community development initiatives, including women empowerment programmes, vocational and technical skills training for unemployed youth, entrepreneurship development, and educational support for vulnerable individuals.
He added that the Foundation has also organized educational and business exposure tours for young people to equip them with practical skills and broaden their understanding of entrepreneurship and employment opportunities.
He assured residents that the Foundation would continue to invest in programmes that promote women’s empowerment, create jobs for young people, and contribute meaningfully to the socio-economic development of the Asikuma-Odoben-Brakwa District, the Central Region, and Ghana as a whole.
The event attracted more than 5,000 women from various communities across the district, alongside traditional leaders, community stakeholders, and invited dignitaries.
Addressing the beneficiaries, the dignitaries urged the women to make prudent use of the financial support by investing in productive ventures capable of generating sustainable income.
They cautioned against spending the funds on non-essential items, including extravagant funeral expenses and other avoidable expenditures, stressing that responsible investment would enable them to expand their businesses, increase household incomes, and improve the welfare of their families.
Chiefs and traditional leaders from the Breman Asikuma Traditional Area also encouraged the beneficiaries to remain disciplined, work diligently, and honour any repayment obligations associated with the programme to ensure its sustainability and allow others to benefit in the future.
Several beneficiaries expressed gratitude to Hon. Eric Kwesi Taylor and the Pennyman Foundation, describing the intervention as timely and life-changing.
They said the financial support would help strengthen their businesses, increase their incomes, and improve the living standards of their households.
The beneficiaries pledged to use the funds responsibly and commended the Foundation for its continued commitment to empowering women, promoting entrepreneurship, and supporting community development.
Story by Yaw Boagyan
