Women's Development Bank applies for BoG licence

Vice President Professor Jane Naana Opoku-Agyemang has announced that the proposed Women's Development Bank has submitted its banking licence application to the Bank of Ghana for regulatory consideration.

She said the application was submitted through the Ministry of Finance following the completion of work by a committee established to guide the creation of the financial institution.

Speaking at the 15th Ghana Economic Forum at the Labadi Beach Hotel on Tuesday, November 10, 2026, she said the bank was being established to address the challenges women face in accessing affordable financing for their businesses.

Finance Minister plans new rice import rules to protect local farmers

According to her, the institution would take a different approach from traditional banks by bringing financial services closer to women entrepreneurs, particularly those operating in local markets and small businesses.

“This is because this bank is not meant to be just another financial institution. It is conceived as a large-scale bank designed to bring financial services closer to the women whose enterprise and hard work sustain our markets and local economies,” she said.

Professor Opoku-Agyemang explained that the government had involved women from different sectors in the planning process to ensure that the bank responds to their actual needs.

She said the committee included market women, susu collectors, representatives of women's business associations, financial sector professionals and other key stakeholders.

“My conviction has always been that an institution established to serve women must be shaped by the experiences, aspirations, and everyday realities of those very women,” she added.

The Vice President noted that women remain important contributors to Ghana's economy, particularly in food production, processing, trade and services.

She said improving access to finance for women-owned businesses would help strengthen their operations and support economic growth.

ANAS/BAI

“The Fine Is Too Expensive!” Ghanaian Drivers React to TrafficTech