By Benjamin Nii Nai Anyetei
Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has announced that preparations toward the establishment of the Women Development Bank have reached an advanced stage, with the bank expected to be rolled out later this year.
The Women Development Bank is intended to improve access to affordable financing for women across various sectors of the economy, enabling them to secure loans at lower interest rates to support and expand their businesses.
Speaking at the Government Accountability Series on Wednesday, January 14, 2026, Mr. Kwakye Ofosu said the initiative was born out of challenges identified during the government’s election campaign.
“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 stated.
He disclosed that the government has already committed significant financial resources to support the preparatory and institutional work required to establish the bank. According to him, the 2025 Budget made a provision of GH¢51 million for the initial setup processes.
“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 added.
Mr. Kwakye Ofosu assured that the process is being coordinated under the leadership of the Vice President and has progressed substantially.
“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 government believes the Women Development Bank will play a critical role in empowering women economically, boosting entrepreneurship and contributing to inclusive national development.
