The Deputy Minister for Finance and Member of Parliament for Asuogyaman, Hon. Thomas Nyarko Ampem, has announced that substantial progress has been made toward the establishment of the government’s proposed Women’s Bank Project, a key intervention aimed at promoting women’s economic empowerment and financial inclusion across the country.
Speaking on the floor of Parliament on Wednesday June 24, the Deputy Minister disclosed that preparatory processes for the operationalisation of the bank have largely been completed, with concrete administrative and legal steps already undertaken by government.
Hon. Ampem made the disclosure while responding to questions posed by the Member of Parliament for Techiman South, Hon. Martin Kweku Adjei-Mensah Korsah, regarding the timeline for the rollout of the Women’s Bank Project, which received an initial allocation in the 2025 national budget.
According to the Deputy Minister, government has allocated GH¢51.3 million toward the implementation of the project, exceeding the GH¢50 million originally announced in the 2025 Budget Statement.
He further revealed that an additional GH¢450 million has been earmarked for the initiative in the 2026 Budget, signaling government’s commitment to ensuring the successful take-off and sustainability of the bank.
Providing further updates on the initiative, Hon. Ampem informed Parliament that the corporate entity for the bank, WDB GH Ltd, was officially incorporated on January 26, 2026, as part of the legal and institutional arrangements required for the commencement of operations.
He also indicated that government has formally applied to the Bank of Ghana for the necessary operating licence to enable the institution begin operations once regulatory approval is granted.
“The preparatory work has been completed, and Government has applied to the Bank of Ghana for the requisite licence,” the Deputy Minister told the House.
The Women’s Bank Project forms part of government’s broader agenda to improve access to finance for women entrepreneurs, traders, and small business owners who often face challenges in securing credit and other financial services from traditional banking institutions.
The initiative is expected to provide tailored financial products and support services specifically designed to empower women-led businesses, enhance entrepreneurship, and contribute to national economic growth.
Hon. Thomas Nyarko Ampem assured Parliament that the Finance Minister would provide a comprehensive update on the status of the project during the upcoming Mid-Year Fiscal Policy Review scheduled for July this year.
The proposed Women’s Bank has generated considerable public interest since its announcement, with many stakeholders viewing it as a potentially transformative intervention capable of bridging financing gaps and strengthening women’s participation in Ghana’s economy.
By 1960news.com
