The Ministry of Finance has announced that the government has formally petitioned the Bank of Ghana for a licence to establish the long-anticipated Women’s Development Bank, which is a flagship initiative set to redefine financial inclusion for Ghanaian women.
Deputy Minister of Finance, Thomas Nyarko Ampem, disclosed this development on Wednesday, June 24, while addressing parliamentary inquiries on the project’s progress.
According to him, meticulous groundwork has already been laid to operationalize the institution, which will deliver targeted capital and support to women-led enterprises and entrepreneurs nationwide.
This milestone follows the incorporation of a new corporate vehicle, WDB GH Ltd, on January 26, 2026 -a pivotal preparatory maneuver.
In its wake, the government has formally submitted its application to the Bank of Ghana for regulatory approval to function as a licensed financial institution.
Mr. Ampem further affirmed the government’s robust fiscal commitment: GH¢51.3 million was allocated in the 2025 Budget, with an additional GH¢450 million earmarked in the 2026 Budget to catalyze implementation.
“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.”
“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 stated.
The Women’s Development Bank is envisioned as a transformative lever for gender-equitable growth, unlocking capital access for millions of women whose enterprises fuel Ghana’s economy.
By Ifeetwube Kumah Kwadwo
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