President John Dramani Mahama has disclosed that plans are far advanced to establish the Women’s Development Bank (WDB) to economically empower females in the country.
The President says establishing a bank goes through a rigorous process with the Bank of Ghana (BoG) to ensure the right thing is done, the reason the initiative appears to have taken a little longer.
Speaking during the final day of his two-day “Resetting Ghana” tour of the Savannah region on Saturday, May 23, 2026, President Mahama noted that the Vice President, Prof. Jane Naana Opoku-Agyemang, will present a resolution on the Bank at the next Cabinet meeting.
According to the President, the Finance Minister’s allocation of GHC450 million for the commencement of the Bank is enough assurance that the only thing left is for the BoG to complete its processes to bring the Bank to fruition.
“Work is progressing very fast. At the next Cabinet meeting, the Vice President will present the resolution on the Women’s Development Bank,” President Mahama stated, adding that the Vice President has already given a Cabinet report on the Bank.
He explained further that, “for financial institutions, you don’t just get up and set up a financial institution. You have to go through a process and that process is supervised by the Bank of Ghana to make sure that you set it up properly.”
He noted that once the processes are completed, the seed capital is ready to commence operations.
“But as you’re aware, the Minister of Finance already gave GHC450 million. That money is sitting there in the account, waiting for the Bank to start, so that the GHC450 million can become the capital for the bank.”
President Mahama additionally explained that all the 24-hour markets being constructed across all the districts in the country will be linked to the WDB, where traders and non-traders alike, can transact business.
“In addition, in all the 24-Hour markets, we have made provision for a bank. That bank in the 24-Hour markets is the Women’s Development Bank.
“So, in all the 261 districts, immediately your market is finished you’ll have a branch of the Women’s Bank in your 24-hour market and so for those doing business in the markets you can save your money there, even if you’re not doing business in the market, it is still your bank you can go there and deposit your money and transact your business,” the President explained.
Tema Port has deployed 1-3-3 shift system under 24-hour policy – Director of Port
