Figures like these are used as an aid to conception by a priest who invokes the influence of his cult deity to induce pregnancy, and during pregnancy to ensure safe delivery. Carved with a flat forehead, this is the characteristic Akan ideal of beauty.
Cf. Monni Adams, Designs For Living, p. 50, fig, 26, for a standing female almost certainly by the same hand/studio in the Mary Ellen Alonso collection. Also see H. Cole and D. Ross, The Arts of Ghana, 1977.