The Abossey Okai Spare Parts Dealers Association has reminded the government of its pledge to establish the Women’s Development Bank.
The Association stated that the promise appears to be dragging, urging the government to speed up the processes involved in making the bank operational.
Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5FM ahead of the Mid-Year Budget Review, Public Relations Officer (PRO) for the Association, Takyi Addo, indicated that the initiative was a major campaign promise by President John Dramani Mahama that must be fulfilled.
The Finance Minister, Dr Cassiel Ato Forson, is expected to present the 2026 Mid-Year Budget Review to Parliament today, Thursday, July 23, 2026.
The review will provide an update on the implementation of the 2026 Budget, assess the country’s economic performance over the first half of the year, and outline any proposed fiscal policy adjustments.
Takyi Addo noted that while the Association does not expect anything major from the presentation, their primary focus remains receiving a clear update on the Women’s Development Bank.
He explained that the bank, as promised, will provide vital financial support for women-owned businesses—an initiative fully backed by the Association.
Just last week, Dr Cassiel Ato Forson announced that the government had transferred GH¢400 million to an escrow account at the Bank of Ghana as the initial capitalisation for the proposed institution.
He noted that with the funds deposited, the government has met the critical capitalisation requirement, enabling the central bank to begin its regulatory assessment and licensing processes.
The Finance Minister disclosed this during a working visit by Vice President Prof. Naana Jane Opoku-Agyemang to the Ministry.
However, Takyi Addo stressed that members of the Association, particularly women, are anxious to know the exact timeline for the start of operations, as they urgently require access to loan facilities to support their businesses.
“This is a mid-year budget review, and so we are not expecting something much. However, our major focus is to hear something about the Women’s Development Bank. Our members who are women are demanding answers as to when the bank will start operations. They need loan facilities to work with, and so they are anxious. We want to hear something about it,” he noted.
Beyond the bank, the PRO highlighted the rationalisation of taxes as another key area of interest for the Association.
He urged the government to put measures in place to reduce the cost of doing business in Ghana, especially given the gains achieved through the stabilisation of the cedi and other economic improvements.
He added that a reduction in import duties remains the most prudent step for the government to take.
By: Rainbowradioonline.com/Ghana