Vice President to Present Resolution on Women’s Development Bank at Next Cabinet Meeting – President Mahama

President John Dramani Mahama has announced that Vice President Prof. Jane Naana Opoku-Agyemang will present a formal resolution on the proposed Women’s Development Bank at the next Cabinet meeting.

Speaking during a citizens’ engagement at Ndewura Jakpa Senior High School on Saturday, May 23, President Mahama emphasized that the initiative is a key government commitment aimed at economically empowering women and supporting small-scale business operators across the country.

“Work is progressing very fast. At the next Cabinet meeting, the Vice President is supposed to table the resolution on the Women’s Development Bank and present a report on its progress,” he stated.

President Mahama highlighted that establishing a financial institution involves strict regulatory and administrative procedures under the supervision of the Bank of Ghana to ensure compliance with national banking laws. “For financial institutions, you don’t just get up and set one up. The process is supervised by the Bank of Ghana to make sure it is done properly,” he explained.

He also revealed that the government has secured seed funding for the project, with GH¢450 million set aside to serve as the bank’s initial capital once operations commence. “The Minister of Finance has already provided GH¢450 million. That money is ready in the accounts, waiting for the bank to start so it can serve as the bank’s capital,” President Mahama added.

Story by Efua Nessa