Deputy Presidential Spokesperson, Shamima Muslim, has forcefully defended the government’s allocation of GHC 51.3 million for the Women’s Development Bank, stating that critics are deliberately misrepresenting the initiative. Addressing the controversy during an interview on Prime News GH on ABC News GH, she emphasized that the amount is a seed fund and not the total capital required for a full-fledged bank.
Muslim dismissed concerns raised by members of the Minority and sections of the Majority, who argue that the allocated sum is insufficient, considering the Bank of Ghana’s minimum capital requirement of GHC 400 million for a commercial bank. “We have never promised a commercial bank. A commercial bank would require us to charge some levels of interest rates,” she clarified. “We have said insistently that this is a development bank, which will charge very minimal interest rates.”
She further elaborated that the GHC 51.3 million is only an initial commitment from the government, with plans to mobilize additional funding from development partners. “When we say seed money, it is a commitment to what we want to start with. It also means we are going to invite development partners that are already doing the work to also come on board,” she explained.
Richard Ahiagbah is the Last Person to Question Commitment
Taking direct aim at NPP’s Director of Communications, Richard Ahiagbah, who accused the government of being unserious about supporting women’s businesses, Muslim dismissed his claims as hypocritical. “Richard is not a good reference point to use when speaking about commitment,” she stated. “He and his government are the worst to speak on commitment, as they failed to account for monies used for a project they promised to God and Ghanaians.”
She argued that the NDC government, despite inheriting a struggling economy, still prioritized women’s economic empowerment. “He should be the last person to question our (NDC) commitment to the women of Ghana. Because we could have decided not to touch that program this year, given how poorly they managed the economy. But we have put in a seed money,” she stated.
Budget for Office of the Presidency: Nothing New
Muslim also addressed concerns over the GHC 11.5 billion allocation for the Office of the Presidency, which critics claim is excessive compared to the previous government’s GHC 8.5 billion. She dismissed the concerns, stating, “It is not novel at all.”
She accused the NPP Minority of attempting to divert attention from the real issues, saying, “The Minority is deliberate about distracting the government, the media, and Ghanaians just so they can avoid accountability.”
She urged Ghanaians to focus on the institutions that will be listed under the Office of Government Machinery rather than being misled by political propaganda. “You must now be interested in the list of institutions that will be published, which are coming under the Office of Government Machinery,” she advised.
Government Committed to Economic Relief
Addressing broader economic concerns, Muslim reaffirmed the government’s commitment to easing economic hardship and ensuring fair distribution of resources. “What we have done this year is to ease the hardship of the majority of the citizens—a budget of the people to ensure that whatever we are able to raise is disbursed fairly,” she stated.
On the Women’s Development Bank, she reassured Ghanaians that the fund would be used equitably. “Whatever little we are able to raise, we will distribute it fairly across every sector so that the youth will benefit, the girls can go to school, and they can access free sanitary pads,” she emphasized.
Her comments follow the presentation of the 2025 Budget by Finance Minister Ato Forson in Parliament on Wednesday. The budget included allocations to several key sectors, including education, health, and governance, with the government reiterating its commitment to social and economic development despite fiscal constraints.
