The Member of Parliament for Walewale, Mahama Tiah Abdul-Kabiru, has launched a GH¢1 million interest-free fund aimed at helping women in the constituency access affordable capital to start or expand small businesses.
The initiative, known as the GH¢1 million “Fako” Fund, is expected to support more than 600 women in phases, with widows, petty traders and small-scale entrepreneurs among the key beneficiaries.
Under the first phase, more than 100 women are expected to receive support, while another 500 beneficiaries will be added in subsequent rounds.
Speaking during the launch, Dr Kabiru said the initiative was designed to address the difficulty many small business owners face in accessing financing from conventional financial institutions.
He noted that high interest rates and collateral requirements often prevent low-income entrepreneurs, particularly women, from obtaining the credit they need to grow their businesses.
The MP said the fund would therefore provide beneficiaries with an opportunity to access capital without the burden of interest, enabling them to establish or expand income-generating ventures.
Dr Kabiru said his motivation for establishing the initiative was partly informed by his upbringing in a rural community, where he witnessed women engaging in small-scale businesses and menial jobs to support their families.
According to him, many women in such communities work under difficult conditions to provide for their children and contribute to household expenses, including financing their children’s education.
He said providing affordable capital could help such women build sustainable businesses and improve their economic independence.
Beyond the launch of the fund, however, Dr Kabiru used the occasion to urge constituents to support the New Patriotic Party (NPP) and its flagbearer, Dr Mahamudu Bawumia, in the 2028 presidential election.
He argued that the hardships confronting Ghanaians would be eased when Dr Bawumia assumes the presidency.
“We are still suffering because the current government remains in power. Dr Bawumia will be the rain that falls to ease our pains,” he declared.
The Walewale MP urged constituents to remain patient and work towards the NPP’s return to power in 2028.
“Let’s pray and work towards making Dr Bawumia president so that we no longer continue to endure these hardships,” he added.
The MP said the combination of targeted financial support at the constituency level and effective national leadership would be critical to improving the economic circumstances of ordinary Ghanaians.
