MTN Ghana has hosted the MTN SME Accelerate Women in Business Webinar as part of its efforts to strengthen women-led enterprises and promote sustainable business growth across the country.
The event, themed “Breaking Barriers to Growth for Women in Business,” brought together entrepreneurs, financial experts, and industry players to examine practical strategies for scaling businesses and overcoming operational challenges.
The Head of Women Banking at Stanbic Bank Ghana, Marian Amartey, speaking, pointed out that time constraints, weak operational structures, and limited market access are the three biggest challenges faced by women-owned businesses.
She explained that many women struggle to balance business demands with family and social responsibilities, making time management a critical factor for growth.
She also noted that while many women enter business based on skills or opportunity, they often neglect strong financial systems and operational structures needed for long-term sustainability.
On market access, she stressed that although many women produce quality goods and services, they often lack visibility and networks to access larger and more lucrative markets.
Digital presence now a business necessity
Ms Amartey emphasised that, in today’s business environment, a strong digital footprint is essential. She noted that financial institutions increasingly rely on online presence when assessing businesses.
“Sometimes, even to validate what you are doing, banks go to your social media platforms. If you don’t put yourself out there, you give us limited information to work with,” she said. She cautioned that social media activity must go beyond posting, urging entrepreneurs to use digital tools strategically to build credibility and market visibility.
She further encouraged women entrepreneurs to embrace partnerships, advising them to delegate expertise-based tasks rather than managing all aspects of their businesses alone. “You cannot do everything alone. Focus on your core business and bring in people with the expertise to support your growth,” she added.
What banks expect from entrepreneurs
Amartey also outlined key requirements financial institutions consider before granting support. These include proper financial record-keeping, clearly defined three-to-five-year growth plans, and sustainable revenue models.
She stressed the importance of separating personal and business finances and maintaining accurate transaction records, warning that poor financial discipline often leads to loan repayment challenges.
She also highlighted specialised support programmes such as Obaasima, designed to guide women from business registration to funding readiness.
Building sustainable businesses through experience
Founder and CEO of Foodbank Catering Services and KULA Bistro, Christiana Dankwah, also shared her entrepreneurial journey, noting her transition from corporate work in Parliament to full-time business ownership.
She explained that early challenges in credit recovery during her buy-and-sell ventures influenced her decision to shift into the food business, where she adopted a daily lunch model targeting offices to ensure immediate payments and steady cash flow. According to her, financial stability played a major role in shaping her business direction, alongside passion.
Beyond her personal journey, she stressed that entrepreneurship requires resilience, continuous effort, and a willingness to push beyond setbacks. She noted that growth does not happen in isolation, but through deliberate networking, mentorship, and learning from the right people.
She encouraged entrepreneurs to seek help when necessary, connect with experienced professionals, and avoid the mindset of trying to do everything alone.
According to her, learning under established businesses helps aspiring entrepreneurs understand the real cost of operations, including rent, utilities, logistics, and equipment maintenance factors often overlooked when calculating profit margins.
She cautioned against relying solely on friends’ praise as validation, noting that genuine market feedback is essential for building a sustainable brand.
The Founder and CEO of Foodbank Catering Services and KULA Bistro further emphasised that successful entrepreneurs are those who continuously reinvest, adapt, and improve rather than those who remain stagnant or rely only on past achievements.
She also highlighted the importance of storytelling in business, noting that social media should reflect both the visible success and the behind-the-scenes struggles.
“Sometimes, what you see on social media is not the full picture. Behind every product is hard work, improvisation, and persistence,” she implied, stressing the importance of transparency in brand communication.
She added that challenges such as delays, unexpected setbacks, and limited resources are part of the entrepreneurial journey, and only those with a strong mindset and resilience are able to push through.
According to her, consistency, adaptability, and resilience are what separate thriving businesses from those that fade out over time.
Branding, humility and consistency for business success
CEO of The Skin Pop Shop and Vicky’s Recipe, Victoria Lebene Osafowaa-Nkansah, highlighted the importance of personal branding, consistency, and mindset discipline in building a successful business identity.
She explained that entrepreneurs must define their positioning clearly and remain consistent in how they present their brands, especially when transitioning from other careers.
According to her, social media should be used as a storytelling and trust-building platform rather than just a content posting tool.
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Beyond branding, she stressed the importance of humility, openness to correction, and continuous learning as key drivers of long-term success. She cautioned entrepreneurs against becoming overly comfortable with success, noting that it can limit growth.
“Stay humble… don’t be too comfortable, because when you are comfortable you refuse to listen, you refuse to learn, you refuse to grow,” she said.
She added that resilience, humility, and openness to feedback are qualities that distinguish successful entrepreneurs from those who struggle to grow.