Women's Development Bank to begin operations before end of 2026 – Finance Minister

The Government has made significant progress towards the establishment of the Women’s Development Bank (WDB), with the institution expected to commence full operations before the end of 2026.

Dr Cassiel Ato Forson, the Minister of Finance, presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, said the bank was formally incorporated as WDB GH LTD on January 26, this year, marking a major step in the Government’s plan to establish a financial institution dedicated to supporting women-owned businesses.

Following its incorporation, the Government applied to the Bank of Ghana for the requisite banking licence to enable the bank to commence operations.

The Finance Minister said the Ministry had also fulfilled the capital requirement for licensing by depositing GH¢400 million into an account with the Bank of Ghana as the initial capital for the Women’s Development Bank.

“Mr Speaker, in fulfilment of the capital requirement for licensing, the Ministry of Finance has deposited an amount of GH¢400 million into an account with the Bank of Ghana as the initial capital for the Women’s Development Bank,” he said.

The Bank is expected to provide financial services tailored to women entrepreneurs, particularly those operating micro, small and medium-sized enterprises, as part of efforts to improve their access to credit and promote inclusive economic growth.

GNA