President John Dramani Mahama has disclosed that Vice President Jane Naana Opoku-Agyemang is expected to present a formal resolution on the proposed Women’s Development Bank at the next Cabinet meeting.
According to the President, government is making steady progress toward establishing the specialised financial institution aimed at supporting women, particularly market women and small-scale entrepreneurs across the country.
Speaking during a citizens’ engagement at Ndewura Jakpa Senior High School in the Savannah Region on Saturday, May 23, 2026, President Mahama said the Vice President would present a Cabinet report outlining the framework and progress made so far toward setting up the bank.
“Work is progressing very fast. Indeed, at the next Cabinet meeting, the Vice President is supposed to table the resolution on the Women’s Development Bank. She will be giving a Cabinet report on the Women’s Development Bank,” he said.
President Mahama explained that the establishment of a financial institution requires several regulatory and administrative procedures supervised by the Bank of Ghana.
“The thing is, for financial institutions, you don’t just get up and set up a financial institution. You have to go through a process, and that process is supervised by the Bank of Ghana to make sure that you set it up properly,” he stated.
The President further revealed that government has already secured seed funding for the project.
According to him, the Minister of Finance has allocated GH¢450 million as initial capital for the bank.
“But as you are aware, the Minister of Finance already gave GH¢450 million. That money is sitting there in the accounts, waiting for the bank to start so that the GH¢450 million can be the capital of the bank,” he added.
President Mahama said the proposed Women’s Development Bank forms part of government’s broader efforts to economically empower women and expand access to financial support for small businesses across the country.
