Members of Parliament for Manso Nkwanta have expressed concern about the allocation of funds for the Women Development Bank aimed at supporting women in Ghana by the NDC government.
He noted that the allocated amount of 51.2 million Ghana cedis is insufficient to establish a functional financial institution in any country.
He questions the viability of establishing a financial institution with such a limited budget, suggesting that it would be challenging to provide meaningful support to women.
Hon. Fokuo, speaking during the 2025 Budget Debate in Parliament, also mentions that women in Ghana have already started complaining about the inadequate funding for the Women Development Bank.
He emphasised the need for more substantial support for women’s empowerment initiatives, highlighting the importance of allocating sufficient resources to make a meaningful impact.
The honourable member also highlighted a significant initiative aimed at promoting financial inclusion for women in Ghana.
According to him, last year, under the presidency of Nana Addo Dankwa Akufo Addo, the Bank of Ghana issued a directive requiring all 23 commercial banks to dedicate a desk to women at each of their branches.
This directive, aligned with Sustainable Development Goal 5, is set to take effect next quarter, starting from April.
He said the goal is to provide women with access to financial services and banking products, promoting economic empowerment and equality. With a total of 1,221 branches across the 23 commercial banks, this initiative has the potential to make a significant impact on women’s financial inclusion in Ghana.
By: Rainbowradioonline.com/Ghana
