In a significant move towards empowering women entrepreneurs and fostering gender-inclusive economic growth, the Government of Ghana has allocated GH€51.3 million as a seed fund for the establishment of the Women’s Development Bank. This initiative was announced by Finance Minister Dr. Cassiel Ato Forson during the presentation of the 2025 National Budget, marking a major step in addressing the financial barriers that hinder women-led businesses.
A Game-Changer for Women Entrepreneurs
Access to funding has long been a major challenge for women entrepreneurs in Ghana, with many facing difficulties in securing loans due to lack of collateral, stringent lending conditions, and gender biases within traditional banking structures. The Women’s Development Bank aims to bridge this gap by providing tailored financial solutions that cater specifically to women-owned businesses and startups.
According to Dr. Forson, the bank will focus on offering low-interest loans, financial literacy programs, and investment opportunities for women in various sectors, including agriculture, technology, manufacturing, and trade. The initiative aligns with the government’s broader commitment to gender equality and economic empowerment.
Why This Initiative Matters
Women play a vital role in Ghana’s economy, contributing significantly to micro, small, and medium-sized enterprises (MSMEs), which form the backbone of the country’s private sector. Despite their contributions, female entrepreneurs often struggle with financial inclusion, limiting their ability to expand and create employment opportunities. The establishment of the Women’s Development Bank is expected to:
- Enhance financial accessibility for women entrepreneurs.
- Promote women-led innovations in key industries.
- Reduce gender disparities in business financing.
- Encourage more women to venture into entrepreneurship.
A Step Towards Gender-Inclusive Economic Growth
This initiative is part of Ghana’s broader Women’s Economic Empowerment Agenda, which seeks to create an enabling environment for women to thrive in business. It also aligns with global commitments such as the United Nations Sustainable Development Goals (SDGs), particularly Goal 5 (Gender Equality) and Goal 8 (Decent Work and Economic Growth).
Financial experts and gender advocates have welcomed the move, urging the government to ensure efficient implementation, transparency, and accessibility of funds to truly benefit women entrepreneurs across urban and rural areas.
What’s Next?
With the allocation of the GH€51.3 million seed fund, the next steps involve structuring the bank’s policies, operational framework, and funding mechanisms. The government is expected to collaborate with private sector stakeholders, development partners, and financial institutions to ensure the successful rollout of the Women’s Development Bank.
This groundbreaking initiative is poised to transform the financial landscape for women in Ghana, offering them the support they need to grow their businesses and contribute meaningfully to the country’s economic development.
