Government applies to BoG for licence to establish Women’s Development Bank

The government has taken a step towards establishing the proposed Women’s Development Bank after submitting an application to the Bank of Ghana (BoG) for a banking licence.

Vice President Professor Jane Naana Opoku-Agyemang announced this at the 15th Ghana Economic Forum (GEF 2026), disclosing that the committee responsible for developing the institution had completed its work and forwarded the application for regulatory approval.

The forum was held under the theme: “From Stabilization to Scale: Mobilizing Capital, Technology, and Policy for Ghana’s Next Industrial Wave.”

Professor Opoku-Agyemang said the committee engaged a broad range of stakeholders, including market women, susu collectors, women’s business associations and financial sector professionals, to ensure the proposed bank responds to the needs of its target customers.

She stressed that the experiences and concerns of women must inform the structure and operations of an institution established specifically to support them.

“My conviction has always been that an institution established to serve women must be shaped by the experiences, aspirations and everyday realities of those very women,” she said.

The Vice President explained that the bank is being developed as a last-mile financial institution that will take banking services closer to women entrepreneurs and businesses that contribute to local economic activity.

“This bank is not meant to be just another financial institution. It is conceived as a last-mile bank designed to bring financial services closer to the women whose enterprise and hard work sustain our markets and local economies,” she stated.

The proposed bank is expected to widen access to financial services, particularly for market traders and small-scale women entrepreneurs who often face difficulties securing funding through conventional financial institutions.

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