Women's Development Bank to begin operations in early 2027 – Ato Forson

Finance Minister Dr Cassiel Ato Forson has announced that the Women's Development Bank is expected to commence operations in early 2027 after the government successfully completed its capitalisation.

He made the disclosure while presenting the 2027 Budget Statement and Economic Policy, dubbed The New Economy, to Parliament on Thursday, November 12.

Dr Forson said the government had secured the necessary capital to establish the institution, paving the way for it to begin operations next year.

“I am happy to report that we have successfully capitalised the Women’s Development Bank, and the bank will be operational beginning early next year,” he told Parliament.

The latest timeline represents a shift from an earlier commitment by the Finance Minister that the bank would become operational by the end of 2026.

The initiative forms part of the government's broader efforts to improve women's access to affordable financing, particularly for enterprises owned and managed by women.

In June 2026, Dr Forson disclosed that the government had deposited GH¢400 million into an escrow account at the Bank of Ghana as the initial capital for the proposed institution.

He explained at the time that the funds would support the regulatory assessment and licensing procedures necessary for the bank to begin operations.

Meanwhile, Vice President Prof. Naana Jane Opoku-Agyemang has disclosed that the Women's Development Bank Committee has completed its assignment and submitted an application for a banking licence to the Bank of Ghana for consideration.