Pan-African Savings and Loans relaunches Mama Club Group Loans to empower women
Pan-African Savings and Loans, a subsidiary of Ecobank Ghana, has reintroduced its Mama Club Group Loans, a credit facility designed to provide women with greater financial empowerment.
The relaunch, backed by strategic collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, aligns with Pan-African’s mission to promote financial inclusion and economic independence among women.
Speaking on the initiative at a ceremony on March 21 in Accra, Ms. Emelia Atta-Fynn, Managing Director of Pan-African Savings and Loans, highlighted the importance of the product in addressing the unique financial challenges women face.
"We are excited to reintroduce the Mama Club Group Loans product, which has been designed to address the unique financial needs of women in Ghana," she said. "Our partnership with GIZ has been instrumental in enhancing the technical skills of our staff, emphasizing our commitment to financial inclusion."
Advertisement
The Mama Club Group Loans provides women with convenient and accessible credit in a group lending format, encouraging peer support, financial discipline, and shared responsibility. Women who maintain good repayment records can benefit from a rebate of up to 7 per cent on interest, making the loan more affordable.
Beyond loans, Pan-African Savings and Loans offers a range of financial and non-financial services tailored to women's needs. Its Mama programme provides free financial and digital literacy training, networking opportunities, and essential health screenings, ensuring a holistic approach to women’s economic empowerment.
Strategic collaboration with GIZ
The reintroduction of the product has been made possible through technical guidance and support from GIZ, with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ). GOPA AFC GmbH is also playing a key role in the implementation of the initiative.
Representing Dr. Christian Jahn, Programme Head of PFS at GIZ-Ghana, Ms. Jennifer Assuah emphasized the initiative's broader impact on women's economic participation.
"The launch of the Mama Club Loan is more than just the re-introduction of a financial product. It is a testament to our belief in the power of women to drive economic transformation. By supporting female MSMEs, we are investing in the future of our economy and society. Empowered women create empowered communities, leading to sustainable development and prosperity," she stated.