The Government has made significant progress towards the establishment of the Women’s Development Bank (WDB), with the institution expected to commence full operations before the end of 2026.

Dr Cassiel Ato Forson, the Minister of Finance, made the announcement while presenting the 2026 Mid-Year Budget Review to Parliament on Thursday. July 23, 2026.

He described the development as a major milestone in the government’s broader strategy to create a specialised financial institution focused on supporting women-owned businesses across the country.

According to the Minister, the bank was formally incorporated as WDB GH LTD on January 26 this year. The incorporation marked the legal foundation for the institution and cleared the way for the next critical steps required to bring it into operation.

Following its registration, the Government promptly applied to the Bank of Ghana for the necessary banking licence. Securing the licence remains a key regulatory requirement before the bank can begin accepting deposits, granting loans or offering other financial services to the public.

In a further demonstration of commitment, the Ministry of Finance has already met the capital requirement for licensing. Dr Forson informed Parliament that the Government has deposited GH¢400 million into an account held with the Bank of Ghana to serve as the initial capital base of the Women’s Development 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,” he said.

The Finance Minister explained that once operational, the bank will focus on delivering financial products and services specifically designed to meet the needs of women entrepreneurs. Particular attention will be given to those running micro, small and medium-sized enterprises, a segment that has historically faced significant barriers in accessing affordable credit from conventional financial institutions.

By improving access to finance for women-led businesses, the Government aims to unlock greater economic participation among women, stimulate enterprise growth and contribute to more inclusive national development. Officials believe the specialised mandate of the Women’s Development Bank will help close long-standing gaps in credit availability and support the expansion of women-owned enterprises in both urban and rural areas.

Dr Forson assured Parliament that the remaining regulatory processes are being pursued with urgency so that the bank can begin full operations before the close of 2026. The establishment of the Women’s Development Bank forms part of the administration’s wider agenda to promote gender-responsive economic policies and strengthen the foundations for sustainable and inclusive growth.