The government has set aside GHS51.3 million as seed funding for the establishment of the national Women’s Development Bank, Finance Minister Dr. Cassiel Ato Baah Forson has announced.
Making the announcement during the presentation of the 2025 budget statement and economic policy before Parliament on Tuesday, March 11, 2025, Dr. Ato Forson emphasized the significance of the initiative in empowering women and youth.
“We have allocated GHS51.3 million as seed fund for the establishment of the Women’s Development Bank,” he said, highlighting that the initiative was part of the government’s commitment to extending a trusted hand to the vulnerable and shaping a new Ghana for future generations.
The Women’s Development Bank, a special-purpose financial institution, is designed to support women-owned and women-led businesses by providing low-interest loans and other tailored financial services on flexible terms.
As outlined in the ruling National Democratic Congress’ 2024 manifesto, the initiative aims to economically empower at least one million Ghanaian women. Beyond financial assistance, it will also focus on financial literacy, equipping women with the knowledge and confidence to make informed decisions and effectively manage their businesses.
Dr. Ato Forson reaffirmed the government’s dedication to implementing the 24-hour economy policy, aimed at driving economic growth, creating jobs, and addressing structural economic challenges.
By pursuing this policy, he explained, the government seeks to build an integrated, efficient, and increasingly export-driven industrial economy that maximizes the country’s resources, capital, and labor potential.
He called on Parliament, the business community, civil society, investors, and all citizens to support the bold reforms outlined in the budget, stressing that “together, we have the power to build a resilient economy that not only tackles today’s challenges but secures a prosperous future.”
“This budget is not just about numbers – it is a blueprint for growth, stability, and opportunity. With unity and determination, we can restore faith in our economy, foster innovation, and uplift every Ghanaian,” he noted.
