In a bid to bridge the financial gap facing women entrepreneurs in Ghana, President John Mahama has announced the establishment of the Ghana Women’s Development Bank (GWDB).
The bank, which will be set up within the next 120 days, aims to provide financial support to women entrepreneurs and small business owners across the country.
Speaking during the 2025 State of the Nation Address (SONA) in Parliament, President Mahama noted that women play a vital role in Ghana’s economy, but often struggle to access credit and financial services.
“Women play a major role in Ghana’s economy but continue to face difficulties in accessing credit and financial services,” he said.
The GWDB is designed to address these challenges by offering affordable loans with flexible repayment terms. According to President Mahama, the bank will also provide business advisory programs, financial literacy training, and mentorship opportunities to support women-led enterprises.
“These will equip women with the skills needed to manage their businesses effectively and improve their long-term success,” he explained.
In addition, the bank will prioritize digital banking solutions to ensure that rural women can easily access financial services remotely. This move is expected to increase financial inclusion and economic empowerment among women in rural areas.
The Ministry of Gender, Children, and Social Protection, in collaboration with the Bank of Ghana, will oversee the establishment of the GWDB.
The government is also working with international development agencies and women-focused non-governmental organizations to mobilize resources for the initiative.