The government has taken a major step toward establishing the Women’s Development Bank, with an initial capital injection of GH¢400 million deposited at the Bank of Ghana to meet regulatory requirements ahead of the bank’s planned launch.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, 2026, Finance Minister Dr Cassiel Ato Forson said significant progress had been made toward operationalising the specialised financial institution, which is expected to begin full operations before the end of the year.
Dr Forson told Parliament that the bank was formally incorporated earlier this year.
“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 explained that following its incorporation, the government submitted an application to the Bank of Ghana for the banking licence required to commence operations.
“Following its incorporation, Government applied to the Bank of Ghana for the requisite banking license to enable the Bank commence operations.”
The Finance Minister also announced that the government has fulfilled the capital requirement for licensing by providing the initial funding needed for the new 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.”
According to Dr Forson, the bank remains on course to begin serving customers before the close of 2026.
“The Women’s Development Bank is expected to commence full operations before the end of the year.”
The Women’s Development Bank is expected to provide targeted financial services to women-owned businesses and entrepreneurs, with the aim of improving access to credit and supporting women’s economic empowerment across Ghana. Its establishment was one of the government’s key policy commitments aimed at promoting inclusive economic growth and expanding financial opportunities for women.
