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  WOMEN'S WORLD BANKING
Women's World Banking is a network of affiliate organizations in 40 countries, centred in New York, which works to train, assist, and lend credit to low-income women entrepreneurs all around the world.
 Origins and Development

During the UN conference on Women in Mexico in 1975 a team from Ghana, led by Dr Mrs. Esther Ocloo presented a paper on the need for the establishment of a financial institution to support women entrepreneurs in view of the difficulties women often encounter in meeting the demand for collateral by the traditional commercial banks. Based on Ghana’s presentation and the support given by other countries Women’s World Banking the world over was born.

Ghana’s team returned home and gradually rallied other women to start its operation in 1988, initially as an NGO which trained women on how to manage their businesses and on basic business record keeping. The NGO also guaranteed women entrepreneurs to take loans from local banks to support their businesses. A “susu” operation (i.e. thrift deposit mobilization) through which contributors obtained finance for their operations was also introduced.

In 1996 the institution became regulated under the Central Bank of Ghana as a deposit taking and loan granting financial organization. It presently has 48,000 active deposit customers with 48 billion deposits as at 30th April. The company has just been recapitalized with fifteen billion cedis that is US$1.7 million dollars. The major shareholders are Data Bank Financial Services Group (A reputable Ghanaian financial services company) with 45% shareholding and Africap Micro Finance Fund (an international Microfinance company) with 30% shareholding. The remaining 25% shares are held by various Ghanaian individuals. Women’s World Banking Ghana is an affiliate of Women’s World Banking world wide.
Following the recapitalization of the company a new management team headed by Mr. Okyei Gyeabour has been put in place. Strategies are currently being implemented to grow the company and turn it around into a first class micro finance institution.

 
 


 
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