Women’s Development Bank submits licence application to Bank of Ghana – Vice President 

Vice President Professor Jane Naana Opoku-Agyemang has announced that the committee overseeing the establishment of the Women’s Development Bank has completed its work and submitted a banking licence application to the Bank of Ghana.

The application was submitted through the Ministry of Finance for regulatory consideration, bringing the proposed bank a step closer to becoming operational.

She made the announcement at opening ceremony of the 15th Ghana Economic Forum, organised by the Business and Financial Times, in Accra on Tuesday, November 10.

“I am pleased that the committee has completed its work, and through the Ministry of Finance, has submitted a banking licence application to the Bank of Ghana for the necessary regulatory consideration. Let's do this quickly so we can move,” she said.

The Women’s Development Bank is a government initiative intended to improve access to affordable financing for women-owned and women-led businesses, particularly those that struggle to secure loans from conventional financial institutions.

In the 2025 Budget, the government allocated GH¢51.3 million as seed funding for the establishment of the bank.

Finance Minister Dr Cassiel Ato Forson disclosed in July 2026 that the government had deposited GH¢400 million as the institution's initial capital and expected it to commence full operations before the end of the year.

The Bank of Ghana subsequently indicated in a September 2026 publication that it had received an application from the promoters of the proposed bank and was conducting due diligence with the Ministry of Finance.

It also said the capital had been deposited in an escrow account pending the issuance of a licence.

The proposed bank is expected to provide low-interest loans and tailored financial services to support women entrepreneurs and help their businesses expand.