Executive Director of the Ghana Climate Change Innovation Center, Ruka Sanusi, has reiterated the importance of female entrepreneurs developing innovative measures to help build business resilience for small and growing businesses (SGB). She has, therefore, advocated for stringent measures aimed at addressing issues such as gender and cultural biases in entrepreneurship, access to business support, and financing modules among other factors.
She made this statement while delivering the keynote address to commence the panel discussion on gender equality and sustainable development at this year’s Incubating Climate Innovation Symposium organised by Ashesi University’s Ghana Climate Innovation Centre. Ms Sanusi said studies have shown that male-owned entrepreneurial firms significantly outperform female-owned firms around the globe.
“Globally, male-owned enterprises significantly outperform female-owned ones, and there are consistent cultural barriers for women in innovation-related fields and persistent gendered norms in entrepreneurship. When we put this together with climate change and its negative externalities, the need for climate action and more sustainable development is urgent. As our global community struggles to combat the effects of climate change, the small and growing business (SGB) sector has a vital role to play in developing adaptation solutions. However, gendered norms in entrepreneurship may slow these solutions”, she revealed.
Ruka Sanusi further stressed the need to build more confidence and support among women entrepreneurs to help their businesses grow, and improve innovative ideas, and livelihood.
The theme for this year’s symposium was “Building the Green Economy in Ghana: The Role of Gender and Entrepreneurship”. Incubating Climate Innovation is an annual thought-leadership symposium which brings to the fore the conversation on inclusive, sustainable economic development, gender, entrepreneurship, and support for the Green Economy.
In her Keynote address, the Canadian High Commissioner to Ghana H.E. Ms. Kati Csaba revealed that the Canadian Government is set to contribute $132.9 million to establish the Canada-African Development Bank Climate Fund to support climate change mitigation and adaptation efforts on the continent.
She said the fund will enhance women’s economic rights and participation in climate action and mobilize private capital to fill the climate investment gap in Africa.