Business & Economy

Women's Development Bank proposal to go before Cabinet - Mahama

Faridatu Seidu•1h ago•308 words · 2 min read

Summary

President John Dramani Mahama disclosed on Saturday, May 23, 2026, at Ndewura Jakpa Senior High School in the Savannah Region 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 President Mahama, "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."

President Mahama said that the 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. He explained that establishing a financial institution requires several regulatory and administrative procedures supervised by the Bank of Ghana. He stated, "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."

President Mahama revealed that the government has already secured seed funding for the project. The Minister of Finance has allocated GH¢450 million as initial capital for the bank. He added, "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." 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.

Quick Summary

President Mahama says the Women's Development Bank proposal will soon go before Cabinet. The government is steadily progressing toward establishing a specialized financial institution - but what hurdles remain?

#Women's Development Bank #Mahama #Opoku-Agyemang #Ghana #Economy

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