The Minister of State in charge of Government Communication, Felix Kwakye Ofosu, has announced that preparations for the establishment of the Women Development Bank are at an advanced stage, with the bank expected to be rolled out in 2026.

The proposed bank aims to enhance women’s access to affordable financing across various sectors, offering loans at lower interest rates to support women-owned businesses and promote economic activities.

Speaking at the Government Accountability Series on Wednesday, January 14, 2026, Mr Kwakye Ofosu assured that the process is being spearheaded under the auspices of the Vice President and has progressed significantly.

“I can assure you that under the auspices of the Vice President, work on the Women Development Bank is far advanced, and in all likelihood, it will be rolled out this year,” he said.

Mr. Kwakye Ofosu explained that the initiative stems from challenges identified during the government’s campaign regarding women’s limited access to capital.

“During our campaign, we identified that women’s access to capital was a major challenge, and resolving this will unlock additional economic growth and improve the welfare of Ghanaian women,” he stated.

He disclosed that the 2025 Budget made a provision of GH¢51 million to support the preparatory work and institutional framework for the bank.

“In the 2025 budget, GH¢51 million was allocated to support the structures that will lead to the establishment of the bank. In the 2026 budget, GH¢401 million has also been allocated,” he added.