The government has allocated GH¢401 million to the Women’s Development Bank in the 2026 budget to boost affordable financing for women-led micro, small, and medium enterprises (MSMEs). This fresh capital injection follows the GH¢51.3 million seed fund granted to the bank in 2025.
In presenting the 2026 Budget Statement and Economic Policy to Parliament, Finance Minister Dr. Cassiel Ato Forson explained that this move supports the government’s goal to attract private finance, promote inclusive growth, and empower women entrepreneurs as major contributors to job creation and innovation.
“To crowd-in finance for women-owned MSMEs, we are providing another GH¢401 million to the Women’s Development Bank,” Dr. Forson said.
With the new funding, the Women’s Development Bank will expand its lending across all 16 regions, offering concessional loans, financial literacy programs, and business development services. This support aims to help women entrepreneurs grow their businesses and enter formal markets.
Dr. Forson highlighted that affordable credit remains a significant challenge for women-led businesses, which account for over 44% of MSMEs in Ghana. The capital injection is designed to close this financing gap by leveraging private investment and partnerships with development finance institutions.
Additionally, this initiative complements other government programs like the 24-Hour Economy Programme, Big Push Infrastructure Plan, and Accelerated Export Development Initiative, which focus on job creation and expanding opportunities for small businesses, especially those led by women and youth.
The Women’s Development Bank plans to use part of the funds to reduce risks in women-focused lending, create credit guarantee schemes, and strengthen collaborations with rural and community banks to reach underserved communities.
Story by: Mercy Addai Turkson #ahotoronline.com