Oxford: The Vice President of Ghana, Prof Jane Naana Opoku-Agyemang, has called for a fundamental rethink of how financial systems engage women in the informal economy, arguing that market women and small-scale entrepreneurs, who sustain local economies across Africa, continue to be shut out of the formal financial system.
According to Ghana Web, speaking at the 2026 Oxford Africa Conference at the University of Oxford in the United Kingdom, the vice president said women have historically driven economic activities across African societies but remain constrained by financial systems that are not designed with them in mind.
"Many women have long been visible in our markets, but strangely invisible on our balance sheets. Market women are resilient, productive, business-minded and often highly informed about the direction of their countries," she noted. Prof Opoku-Agyemang emphasized that despite their capabilities, many of these women remain constrained by systems that assess creditworthiness primarily through collateral, which they typically do not possess.
She further elaborated that the financial needs of women in the informal sector are often modest, yet even small amounts of capital remain inaccessible. "In practice, many women are not seeking large commercial loans. They require relatively modest capital at the right moment to begin trading in foodstuffs, household goods, agricultural produce and other forms of small-scale commerce that sustain households and circulate income within local economies," she explained.
Prof Opoku-Agyemang highlighted the Women's Development Bank as a critical tool in bridging this gap, describing it as a targeted intervention designed to extend financial access to women historically overlooked by conventional banking.
The Oxford Africa Conference, now in its 16th edition, was held from May 16 to 17, 2026, at the Andrew Wiles Building of the University of Oxford. The 2026 edition, themed "Anchoring Africa: Grounded Leadership in the Age of Disruption," focused on how African leadership and institutions can respond to global challenges, including economic uncertainty, technological change, climate change, and shifting geopolitical dynamics.
Organized by the Oxford University Africa Society, the conference serves as a student-led platform that brings together policymakers, scholars, entrepreneurs, and global leaders to discuss Africa's development and future.