Women traders across Ghana are still waiting for the proposed Women's Development Bank to begin operations, months after the government announced GH¢401 million to support its establishment.

The Ghana Union of Traders Associations (GUTA) said the delay is raising concerns among traders who had hoped the bank would provide financial support to help them grow their businesses.

GUTA President Clement Boateng stated that the government's earlier promise to open the bank before the end of 2026 had raised expectations, but there was still no clear date for its operations.

Speaking on Adom FM, he explained that the government first announced GH¢401 million as initial funding for the bank in the 2026 Budget.

He said traders became more hopeful when the government repeated its commitment during the mid-year budget review, assuring them that the bank would begin operations before the year ended.

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However, with only a few weeks left in 2026, Boateng said women traders were becoming concerned about whether the promise would be fulfilled.

“GUTA, as a business community, has expectations, and the first is to hear a definite date for the commencement of the Women's Development Bank,” he said.

He disclosed that the Vice President had informed the association that a committee had been established to work with the Bank of Ghana to secure the necessary licence.


He urged the government to speed up the process, arguing that the bank should be able to begin operations once all regulatory requirements have been satisfied.

He also expressed the view that the Bank of Ghana could issue the licence within a few days if the necessary procedures were completed.

Boateng said the Finance Minister, Dr Cassiel Ato Forson, must use the 2027 Budget to explain when the bank will finally open rather than leave traders uncertain.

“Dr Ato Forson must give us a definite date in 2026 when the Women's Bank will start operating,” he stressed.

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The proposed bank is expected to improve access to loans and other financial services for women, particularly those operating small businesses.

For traders who struggle to secure funding from traditional banks, the proposed institution could provide another source of financing to purchase goods, expand their businesses and manage operating costs.

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