Government likely to launch Women’s Development Bank this year – Kwakye Ofosu

The Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has announced that the long-awaited Women’s Development Bank is expected to be operational this year, marking a significant step towards enhancing women’s economic empowerment across Ghana.

Speaking at the Government Accountability Series, the minister emphasised the administration’s commitment to delivering on promises made to women during the 2024 election campaign.

He noted that the establishment of the bank remains a central pledge aimed at supporting women across all sectors of the economy.

Mr Kwakye Ofosu revealed that preparatory steps for the bank have already been undertaken.

“The promise was that we would set up a Women’s Development Bank, capitalise it, and enable lending to women at all levels of the Ghanaian economy. In the 2025 Budget, GHS51 million was allocated to initiate the process, and in the 2026 Budget, a further GHS401 million has been provided. Under the Vice President’s guidance, work has progressed significantly, and the bank is likely to be rolled out this year,” he said.

The minister explained that the bank will provide accessible financing to women entrepreneurs, farmers, and professionals, aiming to address long-standing challenges related to credit access.

He added that the initiative is part of a broader strategy to create inclusive economic opportunities for women nationwide.

Mr Kwakye Ofosu further stressed that the bank is not just a financial institution but a platform to foster sustainable economic participation among women, reinforcing the government’s dedication to gender equity and national development.

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