Finance Minister, Dr Cassiel Ato Forson, has announced that the government has injected GH¢400 million as the initial capital for the Women’s Development Bank (WDB), marking a major milestone towards fulfilling its pledge to establish a financial institution dedicated to supporting women entrepreneurs and women-owned businesses.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said the bank has advanced significantly through the establishment process and is on course to begin full operations before the end of the year.
He disclosed that the institution was officially incorporated earlier this year and is currently completing the final regulatory requirements needed to commence business.
“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.
According to the Finance Minister, following the incorporation of the bank, government proceeded to apply to the Bank of Ghana for the appropriate banking licence required for it to operate.
“Following its incorporation, Government applied to the Bank of Ghana for the requisite banking license to enable the Bank commence operations,” he said.
Dr Forson further revealed that the Ministry of Finance has already satisfied the capital requirement needed for the licensing process by depositing GH¢400 million into an account 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 facilitate the final stages of the licensing process, paving the way for the specialised financial institution to begin providing financial services tailored to women-led enterprises across the country.
Expressing optimism about the project’s timeline, the Finance Minister indicated that the Women’s Development Bank is expected to be fully operational before the close of 2026.
“The Women’s Development Bank is expected to commence full operations before the end of the year,” he concluded.
