The Ghana Union of Traders (GUTA) has expressed appreciation for the government’s budgetary allocation towards the establishment of the Women’s Development Bank.
Mr. Nana Kwame Peprah, the Greater Accra Regional Chairman for GUTA, stated that fulfilling this campaign promise is a positive development that will significantly assist women in the trade sector in accessing crucial funding to expand their enterprises.
He quickly added, however, that the government should also consider supporting male traders who are currently facing operational challenges.
In his remarks, Mr. Peprah welcomed the allocation saying: “The allocation made for the Women’s Development Bank is great news; it delivers on a key campaign promise made by the ruling government during the 2024 election period. Delivering on it is commendable. However, like Oliver Twist, we are asking for more. Focusing solely on women can be seen as discriminatory. There are equally vulnerable businessmen who deserve to be considered.”
He elaborated on the need for balance, noting that while many women are capable and ready to expand their businesses, there are also vulnerable men seeking financial support.
“For example, if women are allocated GHS 500,000, the men could be given half of that amount to foster a more inclusive support system.”
Mr. Peprah also commended the government’s efforts in stabilizing the Ghanaian cedi.
He noted that inflation is currently at an all-time low and advised that sustained efforts be deployed to ensure that these crucial economic gains are maintained over the long term.
Finance Minister Dr. Cassiel Ato Baah Forson announced the allocation of GH¢401 million to the Women’s Development Bank, in addition to the GH¢51.3 million seed capital allocated in 2025, to empower women entrepreneurs and promote inclusive growth.
The allocation is part of the government’s broader strategy to crowd in private finance, strengthen inclusive growth, and empower women entrepreneurs as key drivers of job creation and innovation.
The bank is set to remove barriers such as collateral and equity requirements that have hindered women from securing funding from traditional banks.
The bank is expected to provide flexible financial solutions tailored to the needs of women in small and medium enterprises, enabling them to expand.
By: Rainbowradioonline.com/Ghana
