32.2 C
Accra

Fewer Than 20% of Women-led SMEs in Ghana Engage in Exporting  – OAWLI Study

Among the key findings is that only 9 percent of the 335 respondents sampled have exported their products, with a significant portion resorting to informal channels such as family and friends.

The findings of a new research conducted by the Oxford Africa Women Leadership Institute (OAWLI) indicate that less than 20 percent of women-led businesses in Ghana have engaged in exporting activities.

The research, set to be released on this year’s International Women’s Day, will be launched at the British Council on March 5, 2024.

Among the key findings is that only 9 percent of the 335 respondents sampled have exported their products, with a significant portion resorting to informal channels such as family and friends.

- Advertisement -

The study also suggests that a vast majority of respondents lacked awareness of the required certifications for exporting. Despite this, a considerable number noted that they are aware of the African Continental Free Trade Area (AfCFTA), a flagship project of the African Union to create one African market.

“The research emphasizes the need to enhance export readiness among women-led businesses in the SME sector. It also suggests stratification to define export readiness clearly and advocates for support in obtaining export certifications from relevant authorities like the Ghana Export Promotion Authority (GEPA), PPRSD, FDA, and GSA,” authors of the report said.

Furthermore, the study also highlighted the increasing reliance on digital channels for business transactions and marketing among women-led businesses. Social media platform, Instagram for example, emerged as the preferred social media platform for online marketing, indicating the importance of digital media support for these businesses.

“The research methodology employed quantitative sampling techniques and surveys to gather data from women business owners, providing insights into various aspects of their operations and challenges. In conclusion, the study underscores the need for technological support and recommends targeting Instagram as a primary digital marketing channel for businesses catering to women-led enterprises,” the report added.

- Advertisement -

The findings of the report undoubtedly highlight a cause for intervention, given that women-led SMEs are critical drivers in accelerating sustainable socio-economic development. According to the World Bank, businesses owned by women in Ghana make up about 45% of the economy.

While you're here, we just want to remind you of our commitment to telling the stories that matter the most.Our commitment is to our readers first before anything else.

Our Picks

THE LATEST

INSIDE POLITICS

Get the Stories Right in Your Inbox

MORE NEWS FOR YOU