#SONA2025: Ghana Women’s Development Bank to be established in 120 days – Mahama

President John Mahama has announced that the Ghana Women’s Development Bank (GWDB) will be established within the next 120 days to provide financial support to women entrepreneurs and small business owners across the country.

Delivering the 2025 State of the Nation Address (SONA) in Parliament on Thursday, February 27 2028, he said the bank will serve as a specialised financial institution to bridge the credit gap for women-led businesses in agriculture, trade, manufacturing, and technology.

Mr Mahama noted that women play a major role in Ghana’s economy but continue to face difficulties in accessing credit and financial services.

He stated that many female entrepreneurs struggle to secure funding due to high interest rates, stringent collateral requirements, and a lack of tailored financial products.

According to him, the Ghana Women’s Development Bank will address these challenges by providing affordable loans with flexible repayment terms, making it easier for women to grow and sustain their businesses.

He added that the bank will not only offer financial services but also support women-led enterprises with business advisory programmes, financial literacy training, and mentorship opportunities.

These, he explained, will equip women with the skills needed to manage their businesses effectively and improve their long-term success.

The bank will also prioritise digital banking solutions to ensure rural women, who often have limited access to traditional banking services, can easily conduct financial transactions and access funding remotely.

The Ministry of Gender, Children, and Social Protection, working in partnership with the Bank of Ghana, will oversee the establishment of the bank to ensure it becomes fully operational by mid-2025.

The government, Mr Mahama stated, is working with international development agencies and women-focused non-governmental organisations to mobilise resources for the initiative.