Women’s development bank near completion — Mahama reveals at independence anniversary

President John Dramani Mahama has announced that Ghana’s proposed Women’s Development Bank is in the final stages of completion, a major initiative aimed at improving access to affordable credit and financial support for women entrepreneurs across the country.

Speaking during Ghana’s 69th Independence Anniversary celebration held under the theme “Building Prosperity, Inspiring Hope,” President Mahama said the project is part of government’s broader strategy to promote inclusive economic growth and empower women in business.

“Our women entrepreneurs have historically been the backbone of Ghana’s informal economy, yet too many of them face barriers to affordable credit,” President Mahama said. “This Women’s Development Bank will provide accessible financing, mentorship, and business support that is tailored to women-led enterprises.”

He explained that the initiative is being championed under the leadership of Vice President Jane Nana Opoku Agyemang, who has been coordinating work toward the establishment of the financial institution.

According to the President, empowering women economically is critical to national development, adding that when women succeed, families and communities also thrive.

“When women succeed, families thrive, and nations prosper,” he said, emphasizing that the bank will help close financing gaps that have historically limited the expansion of women-owned businesses.

The President noted that Ghana’s economic transformation agenda includes supporting small and medium-sized enterprises, especially those operating in the informal sector where many women entrepreneurs are concentrated.

He said the government is also investing in digital infrastructure and entrepreneurship programmes to complement financial support mechanisms for businesses owned by young people and women.

President Mahama used the occasion to reiterate his government’s commitment to economic reforms aimed at stabilizing the economy, creating jobs, and restoring investor confidence.

“When I took office, you gave me a mandate to reset our nation. Resetting Ghana involves transforming how we govern, how we produce, and how we share the fruits of our prosperity,” he said.

The Women’s Development Bank is expected to provide soft loans, financial training, and mentorship programmes to support women in sectors such as trade, agriculture, manufacturing, and digital services.