President John Dramani Mahama has disclosed that Vice President Jane Naana Opoku-Agyemang is expected to present a formal resolution on the government’s proposed Women’s Development Bank at the next Cabinet meeting, as plans for the institution advance.
Speaking during a citizens’ engagement at Ndewura Jakpa Senior High School in the Savannah Region on Saturday, 23 May, President Mahama stated that steady progress is being made toward fulfilling a key campaign promise aimed at economically empowering women, particularly market women and small-scale entrepreneurs across the country.
According to the President, the Vice President will table a Cabinet report on the proposed bank, outlining the necessary framework and progress achieved so far.
President Mahama explained that creating a financial institution involves several regulatory and administrative processes that must be carefully followed to ensure the bank is properly established in accordance with Ghana’s banking laws and financial regulations.
He emphasised that setting up a financial institution requires a formal process supervised by the Bank of Ghana to ensure proper establishment.
The President further revealed that the government has already secured significant financial backing for the project, noting that seed capital of GH¢450 million has been allocated and is currently awaiting the official commencement of the bank.
By: Rainbowradioonline.com/Ghana