Stanbic Bank urges women entrepreneurs to leverage social media for business growth

Women-led businesses in Ghana must strategically use social media as a critical tool for growth, visibility, and access to finance. Marian Amartey, Head of Women Banking at Stanbic Bank Ghana, made this call during the MTN SME Accelerate Webinar Series.

Ms. Amartey highlighted a significant gap between the potential of women-owned enterprises and their ability to position themselves effectively in the digital business environment. Many women entrepreneurs are active on social media but do not fully use these tools to build credible business profiles. These profiles are essential for attracting customers, partners, and financial institutions.

This initiative aligns with Ghana's broader push for digital transformation across various economic sectors. Small and Medium-Sized Enterprises (SMEs), especially in trade, agribusiness, and light manufacturing, increasingly depend on digital platforms. Data from the Ghana Statistical Service shows a rising trend in internet penetration, yet many smaller businesses still struggle to formalize their digital presence. Previous reports have indicated that leveraging digital tools can significantly boost SME revenue and job creation.

Ms. Amartey stated, “Social media presence is no longer optional; it plays a key role in validating what you do as a business.” She added that financial institutions often check a business’s online footprint before engaging. A lack of visibility or an unintentional presence limits the information available for decision-making. Stanbic Bank, through its various programs, aims to bridge this information gap.

Entrepreneurs must adopt a structured approach to their social media engagement. This includes showcasing products professionally, actively engaging with audiences, and utilizing built-in promotional tools. Ms. Amartey emphasized that simply posting content without consistency or direction is insufficient for meaningful business growth. She advised delegating functions like online branding to professionals to enhance market reach. This approach not only improves visibility but also positions businesses for larger opportunities, including corporate contracts.

Ms. Amartey also stressed the importance of formal systems and structures to make businesses “bankable.” She explained that visibility alone is not enough; businesses need financial records, clear growth plans, and defined revenue streams. Social media can open doors, but internal systems determine if a business can capitalize on these opportunities. Banks are increasingly designing tailored solutions to support women entrepreneurs. Stanbic Bank offers business incubator programs that provide training and mentorship to strengthen operational and digital capabilities before funding is sought. Women represent a rapidly expanding segment of Ghana’s entrepreneurial landscape, and such support is vital. Businesses need to be visible, structured, and prepared to seize existing opportunities.