The Minister of State responsible for Government Communication, Felix Kwakye Ofosu, has disclosed that significant progress has been made towards establishing the Women Development Bank.
He emphasised that operational activities are slated to commence this year.
This announcement was made during the Government Accountability Series on Wednesday, January 14, 2026.
The Minister underscored that the bank aims to enhance access to affordable financing options for women in diverse sectors, enabling them to access loans at reduced rates to support business financing.
He said the 2025 Budget made a provision of GH¢51 million to support the preparatory work and institutional framework required to set up the bank.
The Minister added that the process is being led under the auspices of the Vice President and has reached an advanced stage.
“During our campaign, we identified that women’s access to capital was a major challenge, and its resolution will capitalise on additional economic growth and enhance the welfare of Ghanaian women,” he said.Ghana travel guide
“In the 2025 budget, GH¢51 million was allocated to help finance the structures that will lead to the establishment of the bank. In the 2026 budget, GH¢401 million was allocated,” he stated.
“I can assure you that under the auspices of the Vice President, work on the Women Development Bank is far advanced, and in all likelihood, it will be rolled out this year,” he said.
The Women’s Development Bank will assume a crucial role in providing financial assistance to women entrepreneurs in the informal and small-scale sectors, notably benefiting market women, traders, and small-scale manufacturers.
By: Rainbowradioonline.com/Ghana
