The Deputy Minister of Gender, Children, and Social Protection, Mrs. Francisca Oteng Mensah, has disclosed that social protection financing serves as a measure that allows marginalised people in society to access funds to enable them to contribute their quota to their respective communities.
She said vulnerable people are individuals with potential and talents, saying it is the responsibility of the Ministry to unearth their potential through inclusive and sustainable social protection financing.
Speaking at the 2023 Ministry of Gender, Children, and Social Protection annual summit in Accra under the theme, Sustainable Social Protection Financing: A Key to Financial Inclusion for the Vulnerable, she said the Ministry is challenged to roll out initiatives and innovative systems of financing that will impact positively on the lives of the most vulnerable.
According to her, financial inclusion is a mechanism that can bring to bear empowerment in breaking the cycle of poverty in communities and the nation at large, adding that the Ministry has supported the rights of women and children across the country.
“The Ministry is working fervently to promote financial products that are tailor-made to meet the pressing needs of the vulnerable,” she said and however, explained that the Ministry has engaged financial institutions to design financial products for people to access.
The Minister explained further that “financial inclusion is a transformation agenda that empowers individuals and communities, adding that the Ministry is not only providing support but also creating an enabling environment for economic resilience.
“Financial inclusive leads to innovative solutions and fostering partnerships for sustainable results,”. The Minister said and pointed out that it gives the less privileged the required knowledge and empowerment.
In a statement, the Head of the Livelihood Empowerment Programme (LEAP), Dr. Myles Ongoh, said the project is going well as measures have been put in place to engage donor partners for support to achieve the desired results.
According to him, the significant inputs in social protection programmes are primarily funding, and the Ministry, in this regard, is collaborating with corporate bodies and donor agencies for financial support to enable it to sustain all programmes.