The government has taken a major step toward establishing the Women’s Development Bank by formally applying to the Bank of Ghana for an operational licence, signalling progress on a key financial inclusion initiative aimed at supporting women entrepreneurs.
The update was provided by Deputy Minister of Finance Thomas Nyarko Ampem during parliamentary proceedings on Wednesday, June 24, 2026, in response to questions regarding the status of the project.
According to the Deputy Minister, extensive preparatory work has already been undertaken to bring the initiative to fruition, including the incorporation of a dedicated company to oversee its establishment.
He disclosed that WDB GH Limited was officially incorporated on January 26, 2026, paving the way for the government to seek the regulatory approvals necessary for the institution to begin operations.
Mr. Ampem noted that the proposed bank is intended to expand access to financing for women-owned businesses and entrepreneurs, helping to address challenges that often limit their participation in economic activities.
To demonstrate its commitment to the project, the government has allocated substantial financial resources toward its implementation. He revealed that GH¢51.3 million was earmarked for the initiative in 2025, while an additional GH¢450 million was provided in the 2026 Budget to support its rollout.
The Deputy Minister assured Parliament that work on the intervention remains on course and that further details would be provided in the coming weeks.
“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,” he told the House.
He added that the Minister for Finance is expected to present a comprehensive update on the project during the Mid-Year Fiscal Policy Review scheduled for July.
The Women’s Development Bank is one of the government’s flagship initiatives designed to promote financial inclusion and provide targeted support for women-led enterprises across Ghana.
