AngloGold Ashanti Obuasi Mine educates women in its operational areas in basic financial management as part of a financial literacy awareness program.

Sixty women engaged in different businesses within the AngloGold Ashanti Obuasi mining enclave have so far benefited from the financial management training to improve the fortunes of their businesses.

The two-day monthly training aims to help boost the financial performance of their businesses, but more importantly to strengthen the growth of the entrepreneurship ecosystem in the Obuasi enclave.

The training program aims to equip more than 400 women by the end of 2022 with the knowledge to manage their finances and make the right financial decisions for their businesses.

According to AngloGold Ashanti’s Superintendent of Social Development and Gender, Mavis Nana Yaa Kyei, empowering women across all sectors of the economy is key to ensuring inclusive developments and improving the situation of the communities where AGA operates.

She was speaking on the sidelines of the graduation of the first cohort of 60 women in Obuasi.

“…the mining society sees women as a group that needs to be empowered to achieve economic equity in society in particular.”

“Once you want to empower women, you no longer need to empower them socially but economically to enable them to make final decisions about their finances to ensure sustainable business growth.”

The women have also received training that will enable them to develop their banking and accounting skills.

60 women benefit from AngloGold Ashanti's financial literacy awareness program

The process

The selection process was carried out as part of Mine’s Business Development and Skills Development Program.

Ms. Kyei revealed that of the 200 applications received, less than 20% were women.

The majority of them had limited documentation of their entries and exits, which deprived them of the possibility of being part of the business development program.

60 women benefit from AngloGold Ashanti's financial literacy awareness program

One of the participants, Mrs. Vivian Elsie Obeng, congratulated AngloGold Ashanti for the training opportunity.

“…the program has been an eye opener for me to let go of the old ways of doing business without keeping proper records.

“As a bottled water distributor, my goal has always been to work with large institutions like AGA. With the knowledge gained in accounting and how to invest for the future, I will hopefully be in a good position to work with them”.

Madam Cynthia Mba, who suffers from a physical disability, urged women in Obuasi, regardless of their circumstances, to take advantage of the program to boost their businesses.

The training program was organized by AGAG and implemented by Invest in Africa.

Ms. Kyei, meanwhile, said the program would run on a monthly basis.

The training will cover areas such as financial planning and financial decision making for micro/small businesses, manual bookkeeping, numeracy skills using a calculator for transactions, creating a positive banking habit and knowledge of the types of accounts available for micro-enterprises. (savings, current, fixed deposit).

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