The Minister of State in charge of Government Communication, Felix Kwakye Ofosu, has announced that preparations for the establishment of the Women Development Bank are at an advanced stage, with the bank expected to be rolled out in 2026.

Speaking at the Government Accountability Series in Accra on Wednesday, January 14, 2026, Mr. Kwakye Ofosu said the initiative is aimed at expanding women’s access to affordable credit, enabling them to finance businesses across agriculture, trade, industry, and services at lower interest rates.

“During our campaign, we identified that women’s access to capital was a major challenge, and its resolution will capitalise on additional economic growth and enhance the welfare of Ghanaian women,” he stated.

The government has already committed substantial funding to make the bank a reality.

According to Mr. Kwakye Ofosu:


  • GH¢51 million was allocated in the 2025 Budget to support preparatory work and institutional structures.

  • GH¢401 million has been earmarked in the 2026 Budget to move the project into full implementation.
“In the 2025 budget, GH¢51 million was allocated to help finance the structures that will lead to the establishment of the bank. In the 2026 budget, GH¢401 million was allocated,” he explained.

The Women Development Bank is being developed under the auspices of the Vice President, and officials say it has moved beyond the conceptual stage.
“I can assure you that under the auspices of the Vice President, work on the Women Development Bank is far advanced, and in all likelihood, it will be rolled out this year,” Mr. Kwakye Ofosu said.

Once operational, the Women Development Bank is expected to become a key pillar of the government’s financial inclusion and gender empowerment agenda, providing tailored credit and financial services to help women entrepreneurs scale up their businesses and improve livelihoods across the country.