Women entrepreneurs across Ghana are set to gain improved access to affordable financing as government confirms that preparations for the establishment of the Women Development Bank have reached an advanced stage, with rollout expected later this year.
The specialised financial institution is being positioned as a key intervention to address long-standing barriers that have limited women’s access to credit, particularly for small- and medium-scale enterprises operating in both the formal and informal sectors.
Speaking at the Government Accountability Series on Wednesday, January 14, 2026, the Minister of State in charge of Government Communications, Felix Kwakye Ofosu, said the initiative emerged directly from concerns raised during the government’s nationwide campaign engagements.
According to him, women consistently identified access to capital as one of the most significant constraints affecting business growth, productivity and household welfare.
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“During our campaign, we identified that women’s access to capital was a major challenge. Addressing this gap will unlock additional economic growth and improve the welfare of Ghanaian women,” he stated.
Strong financial backing
Mr. Kwakye Ofosu disclosed that government has already committed substantial public funds to support the establishment of the bank and ensure its smooth take-off.
He explained that the 2025 Budget allocated GH¢51 million to finance preparatory activities, including institutional setup, regulatory processes and operational planning. This was followed by a GH¢401 million allocation in the 2026 Budget, signalling government’s commitment to fully operationalise the bank.
“In the 2025 Budget, GH¢51 million was allocated to support the structures leading to the establishment of the bank. In the 2026 Budget, GH¢401 million was allocated to move the process forward,” he said.
Rollout expected this year
The Minister assured that work on the Women Development Bank is being coordinated at the highest level of government under the supervision of the Vice President, with significant progress already made.
“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 added.
Once operational, the bank is expected to offer women-friendly financial products, including low-interest loans, flexible repayment arrangements and tailored credit facilities designed to support business expansion, job creation and economic resilience.
Boosting inclusion and growth
Government officials believe the Women Development Bank will play a transformative role in closing gender financing gaps, strengthening women-owned enterprises and accelerating inclusive national development.
The initiative is also expected to complement existing programmes aimed at empowering women, supporting entrepreneurship and increasing women’s participation in Ghana’s economic growth.
