Adopt savings culture - WWBG to Women

The Women’s World Banking Ghana (WWBG) has advised and encouraged women to adopt the culture of saving.

The bank, which has been operating for close to two decades with special focus on women, said its financial literacy programmes were bringing improvement in the lives of many women.

Chief Executive Officer of the bank, Lily Baidoo, told Class Business the bank had introduced the Boa Woho scheme to encourage women to save to acquire properties.

“Savings is the backbone of everything and we encourage people that savings is about consistency. You need to be consistent in what you do. With this, we even have a project called Boa Woho (help yourself), where we encourage people to do savings towards the purchase of something. So, with this, you don’t even need to come for a loan, you need to just make up your mind that I want to purchase something. … Go for the costing and say that at the end of three months, I want to get this amount of money, we will help you to do the daily collection, we come to your end, we pick it every day, and when the amount is up to, you come and withdraw the money. This programme was done with women in mind because we realised that they can do ‘susu’ savings, so why don’t we help them,” she stated.

“It is not all about loans, sometimes we want to encourage women out there that let us stop buying a lot because I am a woman and I know we can shop and shop and shop, let us try as much as possible to put aside some of the money because you never know when the rainy day will come.”