Women Accountants Association to equip Makola traders with financial literacy skills

Story by: Regina Bless

The Association of Women Accountants, Ghana, has paid a courtesy call on the Mayor of Accra, Hon. Michael Kpakpo Allotey, ahead of a planned financial literacy outreach programme for traders at the Makola Market.

The delegation, led by the Association’s President, Ms. Efua Bonsu, said the visit was to formally engage the Mayor and brief the Accra Metropolitan Assembly (AMA) on the initiative aimed at equipping market women with practical financial management skills.

Ms. Bonsu explained that the Association selected Makola Market because of the significant role women traders play in Accra’s local economy. She said the programme would focus on areas including proper bookkeeping, insurance, financial planning and business continuity.

According to her, the outreach is also intended to help traders understand how sound financial management can enable them to grow their businesses, improve profitability and create employment opportunities.

She said the Association considered it important to meet the Mayor before proceeding to the market as a sign of respect and to seek the Assembly’s support and cooperation for the programme.

Ms. Bonsu expressed appreciation to the AMA for its cooperation and for facilitating the Association’s activities within the metropolis.

Mayor Commends Initiative

Welcoming the delegation, Mayor Michael Kpakpo Allotey commended the Association for extending financial education to market women, describing women as an important part of Accra’s social and economic development.

He noted that women constitute a significant proportion of traders and small-scale business operators in the city and therefore require the knowledge and support necessary to protect their investments and expand their businesses.

The Mayor assured the Association that the Assembly remained open to organisations whose activities contribute to the welfare and development of residents, particularly women and small-scale traders.

He, however, urged the Association to include education on the payment of approved market tolls, business operating permits and other legitimate Assembly revenues as part of its engagement with traders.

According to the Mayor, compliance with approved revenue obligations is important because such revenues enable the Assembly to provide sanitation services, maintain markets and public infrastructure, and undertake development interventions that benefit residents and businesses.

Mayor Allotey subsequently assured the Association and market women of the AMA’s continued support, stressing the Assembly’s readiness to collaborate with women’s groups and traders in addressing challenges affecting their businesses and livelihoods.