2027 budget: Finance Minister must give definite date Women’s Bank will begin operations – GUTA

The Ghana Union of Traders Associations (GUTA) has called on Finance Minister Dr Cassiel Ato Forson to announce a definite date for the commencement of operations of the proposed Women’s Development Bank in the 2027 Budget.

GUTA President Clement Boateng says women traders are growing impatient over delays in operationalising the bank, despite the government’s earlier commitment to provide funding for its establishment.

Speaking on Adom FM’s Dwaso Nsem, Mr Boateng said the business community expected the bank to begin operations after the government announced an allocation of GH¢401 million as seed money in the 2026 Budget.

He said expectations were raised further during the mid-year budget review, when the government assured traders that the bank would commence operations before the end of 2026.

However, with the year drawing to a close, he said traders were still waiting for a clear timeline.

“GUTA, as a business community, has expectations, and the first is to hear a definite date for the commencement of the Women’s Development Bank,” he said.

Mr Boateng disclosed that the Vice President had indicated that a committee had been established to engage the Bank of Ghana on the process of securing the necessary licence.

He urged the government to expedite the process, arguing that the regulatory approval should not unnecessarily delay the bank’s take-off.

“We would expect that they expedite the process so that by the end of the year, the bank will finalise and begin operations,” he said.

The GUTA President further argued that the Bank of Ghana could issue the required licence within a few days, if the necessary processes were completed.

He said the Finance Minister must use the 2027 Budget to provide clarity on when the bank would become operational, particularly given the pressure from women traders who have been anticipating access to its support.

“Dr Ato Forson must give us a definite date in 2026 when the Women’s Bank will start operating,” Mr Boateng stressed.