- GH¢51.3 million seed capital allocated in the 2025 national budget
- Sectors targeted include trade, agriculture, and technology
- BoG backs the creation of Women’s Development Bank to improve access to credit for women-led businesses
The Bank of Ghana (BoG) has announced that the forthcoming establishment of a Women’s Development Bank aims to address long-standing barriers to credit access for women-led businesses across key sectors such as trade, agriculture, and technology.
Speaking on behalf of the Governor at the 2025 African Financial Inclusion Policy Initiative held on June 20, First Deputy Governor Dr. Zakari Mumuni said the initiative is part of a wider national strategy to promote gender-inclusive finance.
“Beyond access to finance, our focus extends to inclusive policies that empower women economically,” Dr. Mumuni stated. “In 2023, Ghana joined the African Development Bank’s AFAWA (Affirmative Finance Action for Women in Africa) initiative, which supports financial institutions in unlocking credit for women entrepreneurs through risk-sharing mechanisms and technical support.”
He added that under the leadership of President John Dramani Mahama, the government is moving forward with the creation of the Women’s Development Bank. Over GH¢51 million in seed funding has been earmarked in the 2025 national budget to launch the institution.
“This new bank will directly tackle the persistent financing gap for women, especially those operating in agriculture, trade, and technology. We believe women’s financial inclusion is not merely a social obligation—it is an economic imperative,” Dr. Mumuni emphasized.
The Women’s Development Bank, a flagship promise by President Mahama during the 2024 election campaign, is designed to be a special-purpose financial institution run by women for women. It will offer low-interest loans and flexible financial solutions tailored specifically to the needs of women-owned and women-led enterprises.
Finance Minister Dr. Cassiel Ato Forson confirmed the government’s commitment, announcing during the 2025 Budget presentation that GH¢51.3 million has been allocated as initial capital for the bank.
