The Ministry of Finance has announced that the government has formally applied to the Bank of Ghana for a licence to establish the proposed Women’s Development Bank, a key initiative aimed at expanding financial inclusion and supporting women-led businesses.
The disclosure was made on Wednesday, June 24, by Deputy Minister of Finance, Thomas Nyarko Ampem, while responding to questions in Parliament on the progress of the project.
According to him, preparatory work for the establishment of the bank has advanced significantly, including the incorporation of a new entity, WDB GH Ltd, on January 26, 2026.
He explained that following incorporation, government formally submitted an application to the Bank of Ghana seeking regulatory approval to operate the institution as a licensed financial bank.
“I can confirm that a lot of preparatory work has been done. On January 26, 2026, the company WDB Ghana Limited was incorporated. The government has subsequently applied to the Bank of Ghana for a licence to operate the Women’s Development Bank,” he said.
Mr. Ampem further disclosed that substantial budgetary allocations have already been made to support the initiative. He noted that GH¢51.3 million was allocated in 2025, while an additional GH¢450 million has been earmarked in the 2026 budget.
He added that a full update on the project will be presented during the upcoming Mid-Year Fiscal Policy Review in July.
The proposed Women’s Development Bank is expected to provide targeted financial support to women entrepreneurs and strengthen access to credit for women-led businesses across Ghana.
