Women’s Development Bank set for rollout this year - Kwakye Ofosu

Work on the Women’s Development Bank is at an advanced stage under the Vice President, Jane Naana Opoku-Agyemang, with plans for the bank to open in 2026, the Minister in Charge of Government Communications, Mr Felix Kwakye Ofosu, has said.

Speaking at the Government Accountability Series press briefing held on January 14, 2026, Mr Kwakye Ofosu said the 2026 Budget had made a provision of GH¢401 million for the bank.

“I can assure you that under the auspices of the Vice President, work on the Women’s Development Bank has gone really far, and this year it will be rolled out,” he said.

He explained that the bank would be capitalised to allow it to lend to women across different sectors of the Ghanaian economy.

Mr Kwakye Ofosu said the bank was created to deal with the difficulties many women face when trying to secure credit from commercial banks.

“There are many women who need some capital, including micro-credit, to engage in trading or other business activities to support themselves and their families. The existing commercial banks are such that they do not have access to this kind of credit,” he said.

The minister said the Women’s Development Bank was one of the major campaign promises made during the 2024 general elections and that it drew strong support from voters.

“Any time I went out to campaign and mentioned the promise, it received the loudest applause from members of the electorate in the Abura Asebu Kwamankese constituency,” Mr Kwakye Ofosu said.

He said the 2025 Budget had also made provision of GH¢51 million to support the processes leading to the setting up of the bank.

Mr Kwakye Ofosu said women had shown strong enterprise in running small businesses and using credit to support their families, adding that the bank was expected to help deal with the economic challenges many Ghanaian women face.

“We look forward to doing this as quickly as possible to bring some relief to women,” he said.