John Dramani Mahama has announced that the government is in the final stages of establishing a Women’s Development Bank, a flagship initiative aimed at expanding access to finance and business support for women entrepreneurs in Ghana.
The president made the announcement during the country’s 69th Independence Anniversary celebration held at the Jubilee House in Accra, where he addressed the nation on the need to build a more inclusive and resilient economy.
Mahama said the proposed bank would serve as a dedicated financial institution designed to provide affordable credit, mentorship and technical support to women-led enterprises, many of which face barriers in accessing traditional financing.
“This initiative will open new pathways for women entrepreneurs to grow their businesses, create jobs and contribute more strongly to national development,” he said.
The Women’s Development Bank is being spearheaded by Jane Naana Opoku-Agyemang, Ghana’s vice president, as part of broader efforts to strengthen women’s participation in the country’s economic transformation.
More Read
According to Mahama, the project is intended to address longstanding structural challenges faced by women in the business sector, including limited access to capital, financial literacy gaps and insufficient business support systems.
The president said the institution would provide targeted financing and mentoring programmes to help women establish and scale businesses across sectors such as agriculture, manufacturing, trade and services.
Government officials say the initiative will also support small and medium-sized enterprises (SMEs) owned or managed by women, which are widely considered critical to job creation and economic growth in Ghana.
Mahama framed the programme as part of a wider commitment to inclusive development as the country reflects on its progress since independence.
“Independence is not only about the freedom we achieved in 1957,” he said. “It is also about how we continue to expand opportunity and prosperity for all our citizens.”
He noted that women play a central role in Ghana’s economy, particularly in small-scale commerce, agriculture and informal sector activities, yet many remain excluded from formal financial systems.
By creating a specialised financial institution focused on women’s economic empowerment, the government aims to bridge this gap and unlock new sources of growth.
The president said the bank will operate alongside existing financial institutions but will offer tailored financial products suited to the needs of women entrepreneurs, including flexible credit facilities, training programmes and advisory services.
Officials say the institution is expected to collaborate with development partners, private investors and financial technology providers to expand access to capital and digital financial services.
More Read
Mahama said empowering women economically would not only strengthen households but also accelerate national development.
“When women succeed, families prosper, communities grow stronger and the entire nation benefits,” he said.
The president used the Independence Day platform to call on citizens to renew their commitment to national development through discipline, integrity and a shared sense of responsibility.
He described the anniversary theme as a “national covenant” between government and the people of Ghana, stressing that public policies must ultimately translate into tangible improvements in the lives of ordinary citizens.
“Every decision we make as a nation must be guided by the goal of improving the lives of our people,” Mahama said.
The celebration at Jubilee House featured a ceremonial parade and cultural displays marking Ghana’s independence from British colonial rule in 1957, making it one of Africa’s earliest nations to achieve sovereignty.
Mahama said the legacy of Ghana’s founding leaders should inspire a new generation to build a more inclusive, innovative and prosperous country.
He added that initiatives such as the Women’s Development Bank demonstrate the government’s commitment to ensuring that economic opportunities are accessible to all segments of society.
“As we celebrate our independence, we must also commit ourselves to creating an economy where every Ghanaian – especially our women and young people – has the opportunity to succeed,” he said.
