Learning Workshop examines women’s representation in governance, their contribution to institutional decision-making, and what the findings mean for a more inclusive and resilient financial sector.

What happens when women make up a significant share of the customers of financial institutions, but remain less visible in the rooms where institutional decisions are made?

This question was central to the FIRST+II Learning Workshop held on September 15, 2026, in Accra, where stakeholders examined findings from a study on the Contribution of Women to Governance and Performance of Microfinance Institutions in Ghana, presented by Dr. Ibrahim Yakubu Nandom.

The study examined women's representation in the governance of Rural and Community Banks (RCBs) and microfinance institutions, their influence on decision-making, women's experiences as financial-service clients, institutional performance, and the emerging intersection between gender and green finance. The study covered 40 institutions, 30 Rural and Community Banks and 10 deposit-taking MFIs across 15 of Ghana's 16 administrative regions, with 195 responses from board members, senior executives, women clients and key informants.

But the learning event was deliberately positioned as more than a presentation of findings. Participants were encouraged to interrogate the evidence, bring their institutional experiences into the discussion and consider what the findings mean for the sector.

The study found that women account for an average of 23% of board representation and 23.5% of senior management among the institutions surveyed. At board level, 49.1% of institutions have exactly one woman, while only 12.7% have three or more.

The numbers point to progress, but also to a gap between minimum representation and substantive participation. Yet the study also shows that representation should not be viewed simply as a numbers exercise. 85.8% of board respondents rated women's strategic influence as strong or moderate, while more than 80% reported that women participate fully and equally in decision-making.

The experience of some institutions reinforces this finding. Mr. Godfred Asante Hanson, CEO of Manya Krobo Community Bank, shared that women are already playing significant roles within the bank. “We recognize the contribution of women to decision-making at the highest level.” He noted that the bank has women across strategic business units and top management, with five of its eight branch managers being women. The bank, he added, is “intentional” about increasing women's representation at senior levels.

His contribution offered an important counterpoint to the aggregate figures: while the sector-wide picture reveals a representation gap, individual institutions are demonstrating what more deliberate approaches can look like.

One of the study's most important insights is the disconnect between women's role as financial-service users and their representation in institutional leadership. Women constitute a significant proportion of the client base of the institutions surveyed, yet women-specific financial products remain limited. Only 43.1% of institutions reported having women-specific financial products.

For women clients, access itself was generally not the biggest challenge. The study found high levels of satisfaction with financial institutions, while interest rates, collateral requirements, and waiting times remained among the barriers to accessing finance.

The evidence also demonstrates the value of finance when it reaches women effectively. 73.1% of women clients reported business or farm growth, while others cited increased savings and support for children's education among the benefits of financial services. However, more than half of women clients had not received financial education, highlighting the importance of pairing access to finance with the knowledge and tools needed to use it effectively.

Green finance: an emerging opportunity

The workshop also connected women's financial inclusion with an emerging area for the sector: green and climate-smart finance. While institutions expressed interest in expanding green products, awareness among women clients remains low. 74.4% of women clients were unaware of green finance products, while more than half of senior executives reported having no green-finance training.

The findings point to an opportunity for institutions to strengthen staff capacity, improve client awareness and develop products that respond to both women's financial needs and the climate-related risks affecting their livelihoods and businesses.

The conversation ultimately moved beyond the question of how many women are represented to a deeper question: what systems enable women to progress into leadership and influence institutional decisions?

The study identifies barriers including nomination networks, cultural expectations, care responsibilities, limited leadership pipelines, and gaps in mentorship and development.

Joseph Darko of CapPlus captured this broader perspective during the discussion: “Gender inclusion is not just adding another person. It should be a systemic approach.” He argued that gender inclusion needs to be reflected in institutional policies, processes, and operational documents, not simply expressed as an intention at leadership level.

This perspective resonated with one of the workshop's central lessons: lasting change requires more than representation at the table. It requires systems that support recruitment, progression, participation and accountability.

What does this mean for the sector?

The study recommends stronger gender-disaggregated data, leadership and mentorship pipelines, transparent nomination processes, gender-responsive financial products and greater attention to women's participation in emerging areas such as green finance.

For FIRST+II, the findings provide useful evidence for continued work on financial institution transformation, inclusive finance and stronger pathways for women and other underserved groups to participate in and benefit from Ghana's financial ecosystem.

The workshop therefore left participants with a question that extends beyond board composition:

How can financial institutions better connect the people they serve with the people shaping the decisions that determine how those services are designed and delivered?

The answer may lie not only in bringing more women into leadership, but in building institutions where their presence translates into voice, influence, and meaningful change.