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Thursday, July 7, 2022

Group challenges “wrong tagging” of women


A community marketA women’s empowerment group Women Investment Portfolio Holdings (WIPHOLD) has challenged the classification of women in business as belonging to the informal sector.

The group, which has been in the business of empowering women economically in South Africa for the last 15 years, says the significant contribution of women especially in African economies, is degraded by that tag.

WIPHOLD is seeking to replicate its programme in Ghana, the first such attempt outside South Africa.

A senior executive with the WIPHOLD investment team, Gugu Duda, tells Joy Business the informal tag on women should be done away with.

“For me I don’t want to say women are operating in the informal sector, if anything, they are holding the economy together.

She said women must be considered as “a force that can be mobilized for a common purpose.”

“And women can start seeing themselves forming their credible private sectors…with aims of registering their companies over time.”

Asked how the group compares with already established female right advocacy organisations such as the 31st December Women’s Movement, Duda said her group would work towards “channeling women into business operations.”

WIPHOLD hopes to set up profitably run businesses with capital mobilized from women’s groups to offer very good returns and loan facilities to their women shareholders.

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