Stanbic Bank Ghana Ltd. (Stanbic Bank), the International Finance Corporation (IFC) and Mastercard have engaged in a strategic collaboration to accelerate access to finance and business support for female-owned small and medium enterprises (SMEs) and professionals in Ghana, under IFC’s Banking on Women programme.
Women entrepreneurs and professionals remain a powerful yet underserved segment of Ghana’s business landscape. To address this gap, the Stanbic Bank, the IFC, and Mastercard have collectively committed $600,000 to:
- Develop tailored financial and non-financial solutions that expand access to capital for female-owned SMEs.
- Strengthen Stanbic Bank’s institutional capacity to serve this segment sustainably.
- Embed gender-responsive banking practices that can be scaled across the wider financial sector.
The collaboration brings together IFC’s global expertise in gender-smart banking, Stanbic Bank’s market leadership, and Mastercard’s role as a technology and payments partner advancing women’s economic participation through secure, inclusive financial infrastructure.
At the signing ceremony in Accra, Nathalie Akon, IFC Division Director for West Africa, Gulf of Guinea, stated: “Women are essential drivers of Ghana’s economic growth, and unlocking capital for them is a direct investment in jobs and inclusive growth. IFC is pleased to have Stanbic Bank join us as a financial institution partner under our Banking on Women programme to help strengthen the support systems women need to succeed.”
Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana, added: “This partnership reflects our deliberate commitment to inclusive growth. By working with IFC and Mastercard, we are scaling our ability to deliver precision banking and gender-responsive financial solutions that empower women to create jobs and contribute more significantly to the economy.”
Dr. Folasade Femi-Lawal, Country Manager and Area Business Head, West Africa at Mastercard, said: “Female-owned SMEs are central to resilient and inclusive economies, yet many continue to face structural barriers to finance, markets, and business support. Through our collaboration with Stanbic Bank and IFC, we are strengthening the infrastructure that enables women-led businesses to access capital, build financial resilience, and grow sustainably.”
The collaboration supports Ghana’s national development priorities and contributes directly to the United Nations Sustainable Development Goals, particularly SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth). By expanding access to finance and strengthening support systems for female-owned SMEs, IFC, Stanbic Bank, and Mastercard aim to drive inclusive growth, support job creation, and enhance the long-term resilience of Ghana’s SME sector.
