Audio By Carbonatix
I write to propose a strategic realignment of the dormant and unstrategic Development Bank Ghana (DBG) created by Mr. Ken Offori-Atta into the purposeful Women Development Bank (WDB) to better address Ghana’s development financing needs while enhancing efficiency and impact. Given Ghana’s economic realities, merging DBG into a gender-focused development finance institution will accelerate financial inclusion, unlock targeted international funding, and maximize economic benefits such as:
1. Persistent Credit Barriers for Women Entrepreneurs
Women-led businesses, particularly SMEs, face higher collateral requirements, limited access to credit, and gender-based lending biases. A Women Development Bank will directly address these barriers by providing tailored financing, lower interest rates, and structured business development support.
2. Higher Economic and Social Impact
Studies show that women reinvest up to 90% of their income into families and communities, creating stronger economic and social ripple effects. A gender-focused DFI will generate higher GDP growth, job creation, and poverty reduction compared to a generalist development bank.
3. More Effective Use of Public Resources
DBG’s broad wholesale banking model lacks the sectoral depth needed for transformative change. Consolidating its mandate into a Women's Development Bank will streamline operations, eliminate inefficiencies, and provide clearer policy direction.
4. Attracting Targeted International Funding
Global financial institutions such as IFC, AfDB, UN Women, and the World Bank prioritize funding for women-focused financial programs. A Women Development Bank will position Ghana as a leader in gender-responsive financing and attract significant concessional capital.
Implementation Strategy
- Legislative & Policy Review: Align DBG’s structure with a gender-focused mandate.
- Resource & Asset Reallocation:Â
Shift DBG’s portfolio to fund women-owned enterprises.
- Strategic Partnerships:
Engage global donors and investors to expand capital and technical support.
Ghana’s development finance architecture needs targeted, efficient, and high-impact interventions. Merging DBG into a Women's Development Bank will ensure faster economic growth, stronger financial inclusion, and sustainable national development. I urge the Minister for Finance to consider this transition as a strategic, purposeful and time-saving policy decision.
Latest Stories
-
GOLDBOD CEO explains ‘Clear Typo’ in Foreign Reserves claim
23 minutes -
Trump says US military struck ISIS terrorists in Nigeria
50 minutes -
Civil society group calls on the Bank of Ghana to suspend planned normalisation of non-interest banking
3 hours -
Jingle bills: Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve
3 hours -
Brazil ex-President Jair Bolsonaro’s surgery for hernia ‘successful’
3 hours -
Ghana and Afreximbank announce successful resolution of $750 million facility
6 hours -
IGP inaugurates Ghana Police Music AcademyÂ
7 hours -
Proposed 5-year presidential term will be difficult for underperforming presidents to seek more – Prof Prempeh
7 hours -
Constitution review was inclusive, structured and effective – Prof Prempeh
7 hours -
Public urged to remain vigilant to ensure fire incident-free Christmas Â
7 hours -
Why the fight against neglected tropical diseases is far from over
7 hours -
Reported losses from gold operations in 2025 remain speculative – BoG
7 hours -
Fighting AIDS and STIs in Africa: UNFPA equips youth to turn data into action
8 hours -
Amaarae returns to Accra for homecoming concert
8 hours -
5-year term will be harsher on presidents, not kinder, says Constitution Review Chair
8 hours
