The Member of Parliament for Trobu Constituency, Gloria Owusu, has criticised the delay in establishing the proposed Women’s Development Bank, questioning why the initiative has not yet materialised despite government’s announcement that funds have been allocated for its creation.
According to the lawmaker, Ghanaian women—particularly traders, farmers and entrepreneurs—are still waiting for the economic support that was promised under the Women’s Development Bank initiative.
In a statement, Hon. Owusu said the delay represents a setback for women seeking financial empowerment and business growth opportunities.
“Not only have cocoa farmers been let down by President John Dramani Mahama, but Ghanaian women like me are also being let down,” she stated.
Her comments come after President John Dramani Mahama announced during his State of the Nation Address that GH¢401 million had been allocated toward the establishment of the Women’s Development Bank as part of efforts to improve access to finance for women-led businesses.
The bank is expected to provide affordable loans, mentorship and business development support to women entrepreneurs who often struggle to access credit from traditional financial institutions.
However, Hon. Owusu questioned why the bank, which was promised more than a year ago, has yet to be operational.
“The Women’s Development Bank promised over a year ago is still not established. Where is it?” she asked.
She stressed that women across the country had been assured of support through the initiative and are now waiting for those commitments to translate into concrete action.
“When will promises become action? Women traders, farmers and entrepreneurs are waiting for the support they were assured,” she said.
The Trobu MP further warned that the continued delay could undermine efforts to promote women’s economic independence and participation in national development.
“This delay is not just disappointing; it undermines our empowerment, our independence, and our economic opportunities,” she added.
Meanwhile, critics of the initiative argue that although the GH¢401 million allocation may meet the minimum capital requirement for a bank, it may not be sufficient to run a fully operational nationwide financial institution capable of providing large-scale financing to women entrepreneurs.
Financial analysts say additional capital injections, partnerships with existing banks, or a development finance structure may be required to ensure the sustainability and impact of the proposed bank.
Hon. Owusu therefore called on the government to expedite the establishment of the bank and ensure that the promised support for women becomes a reality.