The Government of Ghana is set to establish a GH¢51.3 million Women’s Development Bank aimed at addressing the persistent gender credit gap and empowering female entrepreneurs. This groundbreaking initiative will provide targeted financial services, training, and support to women-led businesses that often struggle to access traditional banking facilities. The move is part of a broader national strategy to promote inclusive economic growth and strengthen women’s participation in Ghana’s formal economy.
The Bank of Ghana has confirmed plans to launch a Women’s Development Bank, a dedicated financial institution designed to tackle the persistent credit challenges faced by female-led businesses across key sectors like agriculture, trade, and technology.
Announced during the 2025 African Financial Inclusion Policy Initiative meetings, the initiative marks a major leap in Ghana’s gender-responsive financial reforms. According to the BoG’s First Deputy Governor, Dr. Zakari Mumuni, who spoke on behalf of the Governor, the initiative is a strategic move to “advance gender-inclusive finance” and unlock new economic potential through targeted support for women entrepreneurs
The new bank, which will be run by women and for women, aims to offer low-interest loans and customised financial products to women-owned and women-led enterprises. With GH¢51.3 million allocated as seed funding in the 2025 national budget, the bank is expected to serve as both a financier and capacity-building hub for Ghanaian women across the entrepreneurial spectrum.
The launch of the Women’s Development Bank is also in line with Ghana’s commitment to the African Development Bank’s AFAWA (Affirmative Finance Action for Women in Africa) initiative, which supports financial institutions in expanding credit access for women through risk-sharing and technical assistance.
Dr. Mumuni emphasized that financial inclusion for women is “not a social obligation but a smart economic strategy,” pointing to the multiplier effect of empowering women in business on national development, job creation, and poverty reduction.
The bank is expected to serve as a critical pillar in President John Dramani Mahama‘s broader economic transformation agenda, particularly in achieving inclusive growth through the 24-hour economy framework and expanded access to capital for informal sector operators.
As Ghana positions itself as a leader in gender-forward financial reform, the success of the Women’s Development Bank could redefine how public policy approaches inclusive entrepreneurship not just in Ghana, but across the continent.
Last Updated on June 25, 2025 by Senel Media
