Women's Development Bank: Prof. Opoku-Agyemang doubles down on interest-free loans for women

Professor Naana Jane Opoku-Agyemang has underlined the National Democratic Congress’s commitment to establishing a Women’s Development Bank (WDB) to bolster the efforts of women entrepreneurs and small and medium-scale enterprises (SMEs) led by women.

She spoke during the launch of the NDC’s campaign in Tamale on Saturday, July 27, 2024.

“We will set up a Women’s Development Bank,” the former education minister said.

Women are “the ones who take care of the home” and “the ones who [ensure] everyone’s at peace.

“And when there’s peace at home, there’s peace in the community [and] there’s peace in the country,” she added, to explain the importance of the WDB.

The vice-presidential candidate said the WDB would give interest-free loans for a “targeted one million to benefit.”

“So this bank, it’ll serve the interest [of women]. It’ll ensure we reach as many women as possible.

“Some women need a small amount, as I say.

“So how will this bank operate without collateral? The bank will operate by looking at the amount of money the women need. And we’ve already targeted one million women to benefit.

“All we are saying is that it is a small amount. And you came for 4,000, 5,000. You bring us back just the 4,000 or 5,000. Don’t bring any interest.

“Because a lot of the women are forced to go to loan sharks, and if you go to them, they give you 2,000 [and] they tell you [to] bring 2,000 more. Now what is that woman going to sell?” she said.

The academic first mentioned the Women’s Development Bank when she accepted to be the running mate of the NDC’s flagbearer and former President John Dramani Mahama on Wednesday, April 24.

“Women must become millionaires too, through hard work, as the men do. Women do not need handouts. We need a hand up. Women of Ghana are capable of managing the bank 100%,” she said.

Should the NDC successfully get Mr. Mahama back into the Golden Jubilee House, Prof. Jane Naana Opoku-Agyemang will be the republic’s first-ever female vice president. Between 2008 and 2012, she served as the first female Vice Chancellor of the University of Cape Coast (UCC).