Finance Minister Cassiel Ato Forson announced on Thursday that the Women’s Development Bank will begin operations in early 2027, following the completion of its capitalisation.
During the presentation of the 2027 Budget Statement and Economic Policy, dubbed The New Economy, to Parliament, Forson confirmed that the government had successfully provided the capital required to establish the institution.
"I am happy to report that we have successfully capitalised the Women’s Development Bank, and the bank will be operational beginning early next year," he told Parliament.
The latest timeline places the bank’s expected commencement of operations in early 2027, after an earlier indication by the Finance Minister that it would become operational by the end of 2026.
The establishment of the bank is part of the government’s efforts to improve women’s access to affordable financing, particularly for businesses owned and operated by women.
In June 2026, Ato Forson disclosed that the government had deposited GH¢400 million as the bank’s initial capitalisation fund in an escrow account with the Bank of Ghana. He explained that the funds would facilitate the regulatory assessment and licensing process required for the bank to commence operations.
Vice President Prof. Naana Jane Opoku‑Agyemang has announced that the Women’s Development Bank Committee has completed its work and submitted a banking licence application to the Bank of Ghana for regulatory consideration.
Observers note that the bank’s launch could signal a broader push to support women entrepreneurs across the country, potentially reshaping Ghana’s financial landscape in the coming years.
