President John Dramani Mahama has announced that Vice President Prof. Jane Naana Opoku-Agyemang will table a formal resolution on the proposed Women’s Development Bank at the next Cabinet meeting, as the initiative moves steadily through the government’s institutional process.
Speaking during a citizens’ engagement at Ndewura Jakpa Senior High School on Saturday, May 23, the President described the bank as one of the government’s central commitments toward supporting women economically and empowering small scale business operators across the country.
“Work is progressing very fast,” he told the gathering, adding that the Vice President would present a full Cabinet report detailing progress made toward establishing the specialised institution.
Mahama explained that setting up a financial institution requires strict regulatory and administrative procedures conducted under the supervision of the Bank of Ghana, and that the government has been navigating this process carefully to ensure full compliance with the country’s banking laws.
The President also confirmed that seed funding for the project is already secured. He disclosed that GH¢450 million has been set aside by the Finance Ministry to serve as the bank’s initial capital, with the funds held in accounts and ready to be deployed once operations formally commence.
The Women’s Development Bank is designed to expand financial access for women and small scale entrepreneurs who remain underserved by conventional banking institutions.
