The Ghanaian government has set aside GH₵51.3 million as an initial investment toward the establishment of the Women’s Development Bank (WDB), a specialized financial institution aimed at supporting women entrepreneurs.
The announcement was made by Finance Minister, Dr. Cassiel Ato Forson, during the presentation of the 2025 Budget Statement and Economic Policy to Parliament on March 11.
The move fulfills a key promise made by President John Dramani Mahama in his State of the Nation Address (SONA) on February 27, where he assured that the initial funding for the bank would be provided in the 2025 budget.
While the Finance Minister confirmed the allocation, he did not specify a launch date for the bank. However, during his SONA, President Mahama assured that the rollout would commence soon.
The Women’s Development Bank is expected to provide low-interest loans and tailored financial services with flexible terms to women-owned and women-led businesses, particularly young female entrepreneurs.
President Mahama emphasized that the initiative aligns with his administration’s broader women empowerment agenda, aimed at reducing financial barriers, fostering fairness, and creating an inclusive economic environment for women.
As a social democrat, he reiterated his commitment to eradicating discrimination and ensuring equal opportunities for all, stressing that economic inclusion for women is crucial to Ghana’s overall growth and development.
