Finance Minister Dr. Cassiel Ato Forson has announced that the Women’s Development Bank will become operational by the end of 2026, revealing that government has already deposited a GH¢400 million capitalisation fund with the Bank of Ghana to facilitate the licensing process.
Speaking during Vice President Professor Naana Jane Opoku-Agyemang’s visit to the Ministry of Finance on Thursday July 9, Ato Forson disclosed that the funds have been lodged in an escrow account with the Bank of Ghana, which has begun the regulatory assessment required before granting the bank a licence to commence operations.
He expressed confidence that the remaining processes would be completed within the year, assuring the Vice President of government’s commitment to delivering on its pledge to establish the specialised financial institution.
“We want to use this opportunity to assure you that we’ll do whatever it takes to make sure that the bank is operationalised this year. For your information, Ma’am, we have paid GH¢400 million, being the capitalisation amount, into an escrow account at the Bank of Ghana,” he said.
Ato Forson further revealed that the process to appoint the bank’s management team and governing board is already underway, describing the move as a key requirement for securing regulatory approval from the central bank.
The Women’s Development Bank is a flagship government initiative aimed at expanding access to affordable financing for women-owned businesses. The institution is expected to help bridge the longstanding credit gap facing women entrepreneurs while supporting enterprises in sectors including trade, agriculture, technology and the informal economy.
