President John Dramani Mahama has announced that the Government is in the final stages of establishing the Women’s Development Bank, a financial institution aimed at supporting women entrepreneurs across the country.

The President made the announcement on Friday during his address at Ghana’s 69th Independence Day Anniversary National Parade held at the Forecourt of the Presidency in Accra.

According to President Mahama, the initiative is being spearheaded by Vice President Jane Naana Opoku-Agyemang, whom he praised for her leadership in advancing the project.

“Our women entrepreneurs have historically been the backbone of Ghana’s informal economy, and yet too many of them face barriers to affordable credit,” President Mahama said.

He explained that the Women’s Development Bank would focus on providing accessible financing, mentorship, and business support specifically tailored to women-led enterprises.

“This Women’s Development Bank will provide accessible financing, mentorship, and business support that is tailored to women-led enterprises,” he stated.

President Mahama stressed the importance of empowering women for national development, noting that when women succeed, families and communities benefit.

“When women succeed, families thrive, and nations prosper. Women of Ghana, we are committed to investing so that you realize your full potential,” he added.

The President also used the occasion to highlight Africa’s growing economic potential, pointing out that the continent is home to more than 1.4 billion people and possesses the youngest workforce in the world.

He further referenced the African Continental Free Trade Area (AfCFTA), headquartered in Accra, describing it as one of the most ambitious economic integration projects in history.

According to him, AfCFTA represents a unified market for African goods and services, a platform for innovation, and a key foundation for Africa’s economic sovereignty.

President Mahama concluded by emphasizing that Ghana’s development is closely linked to the broader progress of the African continent.

“Ghana’s destiny is inseparable from Africa’s destiny,” he said.