The Ministry of Finance has confirmed it submitted a formal application to the Bank of Ghana to licence the proposed Women’s Development Bank.
Addressing Parliament on Wednesday 24 June, Deputy Finance Minister Thomas Nyarko Ampem updated MPs on the project, explaining that significant preliminary work is complete.
The bank aims to offer tailored financial assistance to female entrepreneurs and women-led enterprises nationwide.
As part of the initial setup, a new corporate entity, WDB GH Ltd, was incorporated on 26 January 2026. Following this registration, the government approached the central bank for the regulatory authorisation needed to begin operations.
Mr Ampem also highlighted substantial state funding for the scheme, noting a GH¢51.3 million allocation in 2025 and a further GH¢450 million set aside in the 2026 Budget.
“I can confirm that a lot of preparatory work has been done. On January 26, 2026, the company WDB Ghana Limited was incorporated. The government has subsequently applied to the Bank of Ghana for a licence to operate the Women’s Development Bank.
“I wish to assure the House and Honourable Members that the Minister for Finance will provide a full update on this intervention as part of the Mid-Year Fiscal Policy Review scheduled for next month, July,” he stated.
Once established, the Women’s Development Bank will provide affordable loans with flexible repayment terms, enabling women to grow and sustain their businesses.
Beyond core financial services, the bank will support women-led enterprises through business advisory programmes, financial literacy training, and mentorship opportunities.
Additionally, it will prioritise digital banking solutions to ensure rural women—who frequently lack access to traditional banking—can easily manage financial transactions and secure funding remotely.
By: Rainbowradioonline.com/Ghana
