McDan Applauds The Honesty Of Ada Women As 98% Paid Back Interest Free Loans By Electrochem

Executive Chairman of the McDan Group of Companies, Dr Daniel McKorley has highly commended the women of Ada for their sense of honesty, sincerity and dedication.

As part of Electrochem Ghana Limited’s Corporate Social Responsibility initiatives in the Ada traditional area, the company through its women business Support Scheme supported women with Ghc 3 miilion interst free loans to help them enhance their businesses.

Dr McKorley revealed that, about 98% of the 1,200 women who benefited from the Ghc 3 million interest free loans in Ada have paid back the loans.

Speaking at the maiden edition of the Women In Business Dialogue Series hosted by the Business and Financial Times in Accra on Tusday March 26, 2024, Dr Daniel McKorley showered praises on the women of Ada whom he said have exhibited greater sense of honesty and dedication in paying back without being chased.

The level of honesty shown by the women of Ada during the experiment he said has motivated him to roll the gesture across the country soon.

“…Women bring sincerity and dedication to their venture as the evidence of my Ada story, and am going to roll-oot this to many communities across the country to help women. Am taking it to the doorsteps of these women” Dr McKorley said.

According to him, empowering women businesses was not just for an issue of enquity but it is about unlocking the full potential of the economy and society at large.

He indicated that, the Ghanaian economy cannot thrive if over 50.7% of the population which are women are left behind.

Describing women as very efficient in what they do and key drivers of entrepreneurship, Dr McKorley shared some five nuggets on how they can be supported to drive economic prosperity.

These include the provision of financial literacy to enable women make informed financial decisions, the need for women to step up from their comfort zones and taking calculated risks, establishing mentorships and networking programmes for women, investing in women-led businesses by all stakeholders including tailor-made finacial instruments for women-led businesses and the introduction of gender equality focused policies by government.

The founder of the McDan Group challenged women to believe in themselves and their ability to succeed despite the snares of failure, embrace confidence and avoid using words such as “I can’t, I could’nt, I didn’t” and soldier on for success.

The maiden edition of the Women In Business Dialogue Series was on the theme: “Investing In Women Owned Businesses For Ghana’s Transformation Agenda” A Call For Action”.

Chief Executive of the Business and Financial Times, Dr Godwin Aquaye said investing in women owned businesses is a strategic necessecity for Ghana’s sustaniable development and not just a moral duty since it has a multiplier effect.

Chief Executive of the Ghana Enterprise Agency (GEA) was the special Guest Speaker.

By: Christian Kpesese