Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare says the proposed Women’s Development Bank will provide low-interest financing, flexible collateral requirements and tailored business support for women-led enterprises as government moves to close the financing gap facing female entrepreneurs.

Speaking at the 2026 Ghana Female CEO Summit, the Minister described the initiative as a major economic intervention aimed at positioning women-owned businesses for expansion and job creation.

“As such today, the 2026 national budget has allocated 401 million Ghana cedis to capitalise this institution,” she revealed.

According to her, the bank is being established because many traditional financial institutions have failed to adequately serve women entrepreneurs.

“This is a specialist financial institution built around one insight. Existing commercial banks are not structured to serve women entrepreneurs at scale,” she stated.

She explained that the Women’s Development Bank will provide “low-interest credit, flexible collateral requirements, mentorship, and business development support tailored specifically to women and women-led enterprises.”

Elizabeth Ofosu-Adjare argued that increasing women’s participation in business and trade is critical to Ghana’s economic transformation, noting that women remain one of the country’s most underutilized economic assets.

“Ghana cannot achieve its economic ambition while leaving half of its population underutilized,” she stressed.

The Minister noted that although women own about 40 percent of businesses in Ghana, they continue to receive only a small share of available business credit.

She further cited international estimates to support the economic case for targeted financing and inclusion policies.

“The IFC estimates that closing the gender financial gap for SMEs in sub-Saharan Africa could unlock 42 billion dollars in annual economic value. The McKinsey Global Institute projects that advancing women’s equality in Africa could add 316 billion dollars to continental GDP.” she said.

Beyond financing, the Minister highlighted government’s broader policy framework targeted at women-led enterprises, including the 24-Hour Economy policy, the Affirmative Action Law and export development programmes under the African Continental Free Trade Area framework. She adds that women-owned businesses in sectors such as agro-processing, manufacturing, retail and trade will benefit from tax incentives, trade facilitation measures and industrial park support.

“The policy architecture has been built. The question now is execution and speed. Fifty percent of our population cannot be a footnote in our development plans,” she stated.

She maintained that government’s focus on women empowerment is directly linked to Ghana’s economic growth agenda and long-term competitiveness.

“Women’s economic participation is not a gender programme. It is our national competitiveness strategy. Countries that unlock the full productive potential of their women grow faster, become more resilient to economic shocks and build more equitable societies,” she stressed.

The Minister further called on financial institutions, development partners and the private sector to align with government’s inclusion agenda by expanding support for women entrepreneurs and SMEs.

“When women succeed, families thrive and nations prosper. That is our governing philosophy, and it is backed by law, budget and political will at the highest level,” she added.

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Bank for Women to Give Small Loans for Women in Business - Trade Minister

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