Finance Minister Dr Cassiel Ato Forson has announced that the government has made significant progress towards establishing the Women's Development Bank, revealing that the Ministry of Finance has deposited GH¢400 million as the institution's initial capital and expects it to begin full operations before the end of the year.

Speaking during the presentation of the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, Dr Forson said the government had made significant progress towards delivering on its commitment to establish the specialised bank, which is expected to improve access to finance for women-owned businesses and female entrepreneurs across the country.

According to the Finance Minister, the institution has already been legally incorporated and is moving through the final stages of the licensing process.

"Government has made progress towards the establishment of the Women's Development Bank. On 26th January, 2026, the Bank was formally incorporated as WDB GH LTD," he told Parliament.

Dr Forson explained that following its incorporation, the government submitted an application to the Bank of Ghana for the necessary banking licence to enable the institution to commence operations.

"Following its incorporation, Government applied to the Bank of Ghana for the requisite banking license to enable the Bank commence operations," he said.

The Finance Minister disclosed that the government has already fulfilled the capital requirement for licensing by depositing GH¢400 million with the central bank.

"Mr. Speaker, in fulfilment of the capital requirement for licensing, the Ministry of Finance has deposited an amount of GH¢400 million into an account with the Bank of Ghana as the initial capital for the Women's Development Bank."

The capital injection is expected to support the final approval process by the Bank of Ghana and pave the way for the bank to begin offering financial services.

Dr Forson expressed confidence that the Women's Development Bank would become operational before the end of 2026.

"The Women's Development Bank is expected to commence full operations before the end of the year," he concluded.