The Minister of State in charge of Government Communication, Felix Kwakye Ofosu, has disclosed that work towards the establishment of the Women Development Bank is far advanced and is expected to be rolled out this year.
The bank, when it is established, is expected to improve access to affordable financing for women across various sectors, with them having access to loans at cheaper rates to help them finance their businesses.
Speaking at the Government Accountability Series on Wednesday, January 14, 2026, Mr Kwakye Ofosu said plans are far advanced for the establishment of the bank, and hopefully, it will be rolled out in 2026.
“During our campaign, we identified that women’s access to capital was a major challenge, and its resolution will capitalise on additional economic growth and enhance the welfare of Ghanaian women,” he said.
Mr Kwakye Ofosu explained that the 2025 Budget made a provision of GH¢51 million to support the preparatory work and institutional framework required to set up the bank.
“In the 2025 budget, GH¢51 million was allocated to help finance the structures that will lead to the establishment of the bank. In the 2026 budget, GH¢401 million was allocated,” he stated.
The Minister assured that the process is being led under the auspices of the Vice President and has reached an advanced stage.
“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 said.
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