Ghanaian women in business have been encouraged to focus on building structured enterprises, boosting self-confidence, and telling impactful stories about their brands as key strategies to unlock funding.
This advice was shared by three female leaders in finance and development during the SME Accelerate webinar hosted by MTN Ghana, under the theme “Unlocking Funding for Women in Business.”
Co-Founder at Your Investment Friends, Mimi Anane Appiah, stated that many women-led businesses in Ghana struggle to access funding not because money isn’t available, but due to lack of structure and confidence.
“About 85% of Ghana’s labour force operates in the informal sector, and many of those businesses are not structured—no registration, no financial records, no track record.”
“Even when the opportunities exist, some women don’t apply because they lack the confidence. If you fail the first time, try again. Someone is getting the money—why not you?” she quizzed.
She noted that limited awareness of funding opportunities poses a significant challenge to many businesses.
She stated that this information is easily accessible by searching online, attending relevant events, and networking.
According to her, proactive engagement is key to growing businesses, citing the example of a friend who regularly attends events and flourishes due to her persistence in seeking opportunities.
Her colleague, Seyram Ofori-Atta, Co-Founder of Your Investment Friends, echoed the call for business structure, urging businesswomen to align their proposals with what funders are specifically looking for.
Seyram Ofori-Atta advises against submitting generic proposals for every opportunity.
Instead, she recommends understanding the funder’s impact metrics, such as their focus on agribusiness, job creation for women, or other specific outcomes and tailoring their proposals to match them.
“It’s crucial to tailor your business plan according to these metrics to increase the chances of success. By doing so, you’ll demonstrate a clearer understanding of the funder’s goals and how your project aligns with them” she explained.
She stated that women seeking funding, should meet the requirements of having a registered business, separated personal and business accounts, a well-crafted business plan, and financial projections.
“Own your numbers. Funders want to see whether your business can repay a loan or provide returns on investment. If your house is not in order, nobody will give you money,” she stressed.
Seyram Ofori-Atta also encouraged early-stage entrepreneurs not to be intimidated by these requirements.
“Even if you’re just starting out, with small capital, learn the habits now. It gets harder to restructure once your business scales,” she said.
She also noted that funding isn’t limited to cash investments.
“Some investors provide valuable technical support or business advisory services, which can be just as beneficial as financial funding.
To attract such opportunities, it’s essential to establish robust systems that demonstrate your business’s potential and readiness for investment,” she explained.
UNDP Partnerships Officer, Edem Attor, stressed the power of storytelling when pitching a business.
“Investors connect with people more than products. If your business is helping a grandmother pay school fees or supporting women farmers, say it. That personal touch tells us you’re truly motivated and committed,” she said.
She advised women to pitch with both passion and professionalism, weaving personal motivation into their business narratives to win investor confidence.
The panellists also encouraged women to treat requests for funding from family and friends as an opportunity to practice formal pitching.
“Even if you’re borrowing from your spouse or parents, do a pitch deck, show forecasts, explain your plans. It’s a great learning platform,” said Ms. Ofori-Atta, recalling how a friend successfully pitched to her husband to fund a beauty salon.
The interactive webinar, which drew female entrepreneurs from various business sectors, served as both a motivational and practical guide to accessing the funding many small businesses desperately need, but often fail to position themselves for.
