John Dramani Mahama has announced that the government is nearing completion of the process to establish the Women’s Development Bank, with only the final stage remaining before the institution becomes operational.

Speaking at Ghana’s 69th Independence Day celebration held at the Jubilee House on Friday, March 6, 2026, the President said the bank will support women-led businesses by providing access to capital as well as technical and business development support.

According to him, all major processes toward the establishment of the bank have been completed, and the government is now finalising the remaining steps before it begins operations.

President Mahama explained that the initiative has been spearheaded by the Vice President, Jane Naana Opoku-Agyemang, and is aimed at addressing long-standing financial barriers faced by women entrepreneurs.

“Our women entrepreneurs have historically been the backbone of Ghana’s informal economy, yet many continue to face challenges accessing affordable credit. The Women’s Development Bank will provide accessible financing, mentorship, and business support tailored specifically for women-led enterprises,” he said.

The President also highlighted the government’s broader economic strategy, noting that the 24-Hour Economy Programme and the Accelerated Export Development Programme are expected to create employment opportunities for young people while reducing Ghana’s reliance on exporting low-value raw materials.

He further disclosed that Parliament had passed the 24-Hour Economy Authority Bill, 2025, which has now received presidential assent and officially become law.

President Mahama described the reform as a major step toward addressing structural challenges within Ghana’s productive sectors and enhancing economic growth.

“This historic reform will boost productivity and help resolve long-standing structural issues within our economy,” he stated.