The People’s National Party (PNP) has publicly criticised the government’s establishment and capitalisation of the Women’s Development Bank, labelling the initiative as an unnecessary exercise and a waste of public resources.
Madam Janet Asana Nabla, the party’s Chairperson, contends that the government should instead allocate financial resources to existing commercial institutions, such as the GCB, to channel support to women entrepreneurs.
The government recently announced an additional capital injection of GH¢401 million into the Women’s Development Bank.
This funding is intended to expand access to affordable finance for women-owned Micro, Small, and Medium Enterprises (MSMEs).
This sum supplements the GH¢51.3 million seed fund initially allocated to the bank in 2025.
In his presentation of the 2026 Budget Statement and Economic Policy to Parliament, Finance Minister Dr Cassiel Ato Forson stated that this initiative 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.
However, Madam Nabla argues that this approach is neither financially prudent nor wise.
She asserted that establishing a new, nationwide bank will inherently require substantial resource allocation for infrastructure and operational setup across the country.
To prevent this considerable expense, she proposed that the government channel the funds through existing commercial banks, which already possess an established national network.
Speaking recently in an interview on the “Frontline” show on Rainbow Radio 87.5FM, Madam Nabla questioned the necessity of the new institution.
”Why would the government want to establish new banks before providing loans to women-owned MSMEs? You don’t need to build a bank for them. The logical approach is to utilise the Commercial Bank. The Commercial Bank was originally established to cater to small and medium-scale enterprises. That is why we maintain the Commercial Bank. Why, then, would you bypass the Commercial Bank and establish a separate women’s bank, which will incur significant cost and time?”
Madam Nabla maintained that the government should avoid political posturing and instead collaborate with commercial banks in the various districts, suggesting they could simply establish a dedicated women’s bank desk within these existing structures.
While acknowledging that the Women’s Development Bank is a commendable initiative, she concluded that the nation lacks the resources to establish new banks nationwide when efficient use can be made of the existing commercial banking infrastructure.
By: Rainbowradioonline.com/Ghana
