Founder and Chairman of the McDan Group of Companies, Dr. Daniel Mckorley, shared insights into the repayment rates of interest-free loans provided to 1200 women, revealing that 98% of them have successfully repaid.
During the 2024 Women in Business Dialogue, Dr. Mckorley highlighted his recent experiment, which underscored the honesty of women. This realization led him to extend support to over 1200 women through interest-free loans.
“We all have a part to play when it comes to women entrepreneurship. I did an experiment which I am going to carry across the country very soon. I saw the honesty of women; women are very honest. I have been able to give 1200 women interest-free loan to build their businesses.
“About 98% of the women came back to pay, and it surprised me and if you look at the businesses they are into, that’s what we call the economic growth.”
McDan also urged Ghanaians to show respect for the businesses run by these women, emphasizing his belief that they are the backbone of the nation.
“The things that we don’t respect, the thing that builds our nation, the backbone of our nation and that is what they were doing and we must respect women. I’m not standing here because I’m standing here for women, I’m doing it, I’m supporting women,” he said.
Watch McDan’s video below: