Development economist and financial analyst Dr. Daniel Anim-Prempeh, who is also the Chief Economist at the Policy Initiative for Economic Development (PIED), has cautioned against the proposed Women’s Development Bank in Ghana being put into effect right away. He voiced worries about the state of the economy and the possible dangers of launching such an endeavor at this time.
In order to prevent jeopardizing economic stability, Dr. Anim-Prempeh underlined the significance of upholding budgetary discipline.
Dr. Anim-Prempeh suggests delaying the Women’s Development Bank’s launch until the economic climate is more favorable for its development in light of these factors.
The Women’s Development Bank (WDB) is part of the government’s larger agenda to empower women economically, with the aim of reaching at least one million Ghanaian women.
The WDB is expected to improve access to essential resources and opportunities, especially for young women, thereby fostering an inclusive environment where all individuals can engage fully and equally in social, economic, and political life.
The WDB was established with GH₵51.3 million as seed funding in the 2025 Budget Statement, which was presented on March 11, 2025.
Notwithstanding these reservations, the government insists that the WDB shows its dedication to keeping campaign pledges on women’s economic empowerment and is a major step in reducing gender disparities in financial access.
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Alhassan Suhuyini, the deputy minister for roads and highways, emphasized the allocation as proof of the government’s commitment to its promises and underlined the need of assisting women-led enterprises in order to foster inclusive economic growth.
The creation of the Women’s Development Bank is in line with the government’s initiatives to fully utilize labor, money, and national resources in order to overcome fundamental economic difficulties, promote economic growth, and construct a 24-hour economy.
The government is expected to release more information on the bank’s operationalization as the program moves forward, including its opening date and particular services.
