Beyond bank accounts: Queen Máxima hears Ghanaian entrepreneurs’ financial struggles

Queen Máxima of the Netherlands has met Ghanaian microentrepreneurs in Accra to discuss the challenges of growing businesses, supporting families and building financial security.

The November 3 discussion was facilitated by Opportunity International Savings and Loans Ltd. (OISL). It formed part of her November 2–5 visit to Ghana as the United Nations Secretary-General’s Special Advocate for Financial Health.

Six entrepreneurs from different business sectors shared their experiences with savings, credit, insurance and investment. They also discussed the pressures of healthcare, childcare and preparing for financial emergencies.

The engagement highlighted the distinction between access to financial services and the ability to meet everyday needs and withstand unexpected expenses.

According to the World Bank’s Global Findex 2025, approximately 81% of Ghanaian adults held an account with a financial institution or mobile money provider in 2024.

However, the earlier 2021 FinScope Survey found that only 22% of adults were financially healthy.

OISL Chief Executive Officer Ernest Yerekuu said the institution’s work focused on helping underserved people build businesses and more secure livelihoods.

“For more than two decades, OISL has helped underserved Ghanaians access financial services, grow their businesses, and build more secure livelihoods,” he said.

“We were honored to welcome Her Majesty Queen Máxima and demonstrate our commitment to delivering innovative, client-centered financial solutions that meet the evolving needs of the communities we serve.”

Among the participants was Patience Mensah, a shop owner and member of an OISL Faith Group. She has expanded into food supply, attracting a growing customer base with support from working capital provided through OISL.

Despite the growth, she continues to balance her business needs with the cost of raising three children.

“I am a mother of three young children, so we of course face many challenges when it comes to financial health,” she said.

“But in recent months my business has achieved more growth than ever before, and we are now starting to save little by little.”

Dr William Derban, Interim Project Director for Opportunity International Ghana, said access to financial services was only the beginning.

“We've seen around the world that financial inclusion is only the first step toward lasting financial health,” he said.

“Financial health means families can meet their everyday needs, keep a roof over their heads, and send their children to school without worrying about how they'll pay the fees.”

In Ghana, OISL’s financial products, including its community-based Susu savings service, complement financial literacy training, community savings groups and Farmer Support Agents provided by Opportunity International Ghana.

Both organisations belong to Opportunity International’s global network, which combines financial services with training, technology and ongoing support across 18 countries.

“When entrepreneurs have that foundation of financial security, they can look beyond today's challenges and begin investing in a better future for themselves and their families,” Dr Derban said.