The Ministry of Finance has officially applied to the Bank of Ghana for a licence to establish the proposed Women’s Development Bank, a flagship initiative aimed at promoting financial inclusion for women across the country.
Deputy Minister of Finance, Thomas Nyarko Ampem, disclosed this on Wednesday, June 24, while responding to questions in Parliament.
According to him, significant preparatory work has already been completed, including the incorporation of a new company, WDB GH Ltd, on January 26, 2026, as a foundational step toward the establishment of the bank.
“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,” Mr Ampem stated.
The Deputy Minister also revealed that government has committed substantial funding to the project, allocating GH¢51.3 million in 2025 and an additional GH¢450 million in the 2026 budget.
He assured Parliament that a full update on the initiative will be provided by the Finance Minister during the Mid-Year Fiscal Policy Review next month.
“I wish to assure the House and Honourable Members that the Minister for Finance will provide a full update on this intervention as part of the Mid-Year Fiscal Policy Review scheduled for next month, July,” he added.
The Women’s Development Bank is expected to provide targeted financial products and support to women-led businesses and entrepreneurs nationwide.
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