MFIs must give collateral-free loans to empower women, says Peprah

Peprah said giving collateral-free loans will inure to the benefit of women, who do not own properties

The dean of the School of Economics at the University of Cape Coast, Prof James Atta Peprah has suggested to microfinance institutions to consider rolling out collateral-free loans to empower women and promote gender inclusive policies in Ghana.

Speaking at the virtual 12th annual general meeting of the Ghana Association of Microfinance Companies (GAMC) on Tuesday (28 November), Peprah said giving collateral-free loans will inure to the benefit of women, who do not own properties.

“You also need to think about provision of flexible loan terms and then collateral-free loans, it is possible, it is doable,” he said.

“If you are demanding collateral, then you are not promoting gender inclusive policies,” Peprah said. “In some parts of the country. women don’t own property.”

“So, if you are demanding property as collateral, then you are saying you don’t give loans to women, but if you make it collateral-free loans, then you are promoting gender inclusive policies,” he added.

Listen to Professor James Atta Peprah in the attached audio clip below:

The 12th AGM was on the theme: “Microfinance and the UN Sustainable Development Goals.”

About GAMC

The Ghana Association of Microfinance Companies (GAMC) is the umbrella Association of Companies under tier 2 of Bank of Ghana’s categorization, licensed to provide Microfinance Services which currently stands at 136 companies.

The Ghana Association of Microfinance Companies (GAMC) was established as a company limited by guarantee in May, 2011. The Association was formed to among other things to provide members with information dissemination services; capacity building; supervisory and monitoring services; advocacy and lobbying as well as resource mobilization.

The Association is run by a board of directors who are largely practitioners as well and a Secretariat of management staff.


Reporting by Fred Dzakpata in Accra


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