Plans for the Women's Development Bank license hit a milestone as the project committee formally submitted its regulatory application to the Bank of Ghana via the Ministry of Finance.
Vice President Professor Jane Naana Opoku-Agyemang announced the regulatory submission while addressing business leaders at the 15th Ghana Economic Forum hosted by the Business and Financial Times.
Prof. Opoku-Agyemang explained that the bank's operational model was developed by a specialized committee comprising market traders, informal susu collectors, women's business groups, and financial professionals.
"My conviction has always been that an institution established to serve women must be shaped by the experiences, aspirations and everyday realities of those very women," Opoku-Agyemang said.
She noted that conventional commercial banks often fail informal female entrepreneurs due to rigid collateral demands and high interest rates.
Closing the Gender Enterprise Gap
Citing Ghana Statistical Service data, the Vice President pointed out that while women manage nearly 60 percent of micro-enterprises nationwide, they own less than 10 percent of large-scale corporate businesses.
The bank intends to close this structural gap by providing tailored micro-loans, low-barrier credit lines, and financial literacy training directly inside local markets.
"This bank is not meant to be just another financial institution. It is conceived as a last-mile bank designed to bring financial services closer to the women whose enterprise and hard work sustain our markets and local economies." - Opoku-Agyemang
With the formal application now before the Bank of Ghana, regulatory reviews will determine operational approval for the specialized lender.
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