Accra: The government has allocated GHS51.3 million as a seed fund for the establishment of the national Women's Development Bank, Dr. Cassiel Ato Baah Forson, Minister of Finance, has announced. This allocation was revealed during the presentation of the 2025 budget statement and economic policy before Parliament on Tuesday, March 11, 2025.
According to Ghana News Agency, Dr. Forson emphasized that the initiative is part of the government's efforts to support vulnerable groups, particularly women and youth, and to create a new Ghana for future generations. The Women's Development Bank is designed as a special-purpose bank aimed at supporting women-owned and women-led businesses with low-interest loans and other tailored financial services on very flexible terms.
The 2024 manifesto of the ruling National Democratic Congress highlights the initiative's goal of economically empowering at least one million Ghanaian women. Additionally, the initiative will provide financial literacy programs to enhance women's confidence, enabling them to make informed decisions and effectively manage their ventures.
Dr. Forson reiterated the government's commitment to pursuing a 24-hour economy policy to stimulate economic growth and job creation, addressing the country's structural economic challenges. He stated that this approach would lead to an integrated, efficient, and increasingly export-driven industrial economy that fully utilizes national resources, capital, and labor power.
The Finance Minister called on Parliament, the business community, civil society, investors, and all citizens to support the bold reforms outlined in the budget, asserting that together they have the power to build a resilient economy that not only tackles current challenges but secures a prosperous future. He concluded by stating that the budget is not just about numbers but a blueprint for growth, stability, and opportunity, urging unity and determination to restore faith in the economy, foster innovation, and uplift every Ghanaian.
