Women’s Development Bank completes preparatory work, awaits regulatory approval – Vice President
Vice President Professor Jane Naana Opoku-Agyemang has announced that the committee tasked with establishing the Women’s Development Bank has completed its work, with an application for a banking licence submitted to the Bank of Ghana for regulatory approval.
She said the application had been submitted through the Ministry of Finance, marking a significant milestone in efforts to establish a financial institution dedicated to addressing the financing challenges confronting women entrepreneurs across the country.
Speaking at the 2026 Ghana Women Entrepreneurship Summit, Professor Opoku-Agyemang said the proposed bank was designed to provide more than conventional credit facilities, stressing the need for financial services that respond to the realities and circumstances of women-owned businesses.
According to her, the institution would help address one of the most persistent challenges facing women in business: access to affordable financing tailored to their specific needs.
“The purpose of the Women’s Development Bank is not merely to extend credit, but also to provide financial services that respond to the circumstances in which so many of our women conduct their businesses,” she stated.
The Vice President acknowledged that the bank would not resolve every obstacle confronting women entrepreneurs but expressed confidence that it would make a meaningful contribution towards improving their access to financial resources.
“The bank will not overcome every obstacle women face, but it can help address one of the most persistent difficulties, which is access to affordable financing suited to their needs,” she added.
Professor Opoku-Agyemang expressed satisfaction with the progress made towards establishing the institution and commended the committee for completing its assignment.
She described the journey towards establishing the bank as an interesting one and welcomed the progress achieved, urging stakeholders to recognise the significance of the latest development.
The proposed Women’s Development Bank is expected to strengthen financial inclusion and create better financing opportunities for women entrepreneurs, particularly those whose business circumstances may not be adequately addressed by conventional financial institutions.
The application is now awaiting regulatory approval from the Bank of Ghana before the bank can proceed to the next stage of its establishment.
