GNCCI chases Mahama over the establishment of the proposed Women’s Development Bank
GNCCI chases Mahama over the establishment of the proposed Women’s Development Bank
The Ghana National Chamber of Commerce and Industry (GNCCI) is mounting pressure on President John Dramani Mahama regarding the operationalization and structural design of the highly anticipated Women’s Development Bank.
The Chamber’s demand highlights a critical macroeconomic strain, emphasizing that the high cost of borrowing continues to make it difficult for many women and young businesses to secure loans on sustainable terms.
The GNCCI argues that while the government’s steps to formalize the bank are a positive signal, female entrepreneurs and small business owners cannot survive much longer on current commercial interest rates.
Speaking in an interview on the Citi Breakfast Show on Wednesday, October 28, 2026, on the current financing bottleneck affecting women traders, the Head of Marketing at the GNCCI, Madam Grace Dzeble, pointed out a severe structural deficit in how the current financial architecture serves women in trade.
Madam Dzeble emphasized that while commercial funds exist, prohibitive borrowing costs block sustainable growth for women and youth, requiring targeted investments for regional trade.
“If Ghana wants to take its fair share, then it must invest in those engaged in trade, especially women, who form over 40 per cent of the SME sector. We cannot overemphasise this. We are looking at the establishment of the Women Development Bank to help women and young people trade. We cannot depend on commercial banks because, although funds are available, accessibility is a problem,” she said.
Madam Dzeble further advocated for patient lending terms through specialized institutions like Development Bank Ghana rather than standard commercial options.
She explained that development financing could offer more flexible repayment arrangements, allowing women and young entrepreneurs sufficient time to grow their businesses and repay loans.
“Development banks are patient. They give patient loans so that these women and youth will be able to take their time and grow with it,” she said.
While calling for the establishment of the Women Development Bank, Ms Dzeble also urged Development Bank Ghana to ensure that its participating financial institutions provide loans through its development-financing arrangements rather than relying on their regular commercial lending products.
Moving through final regulatory stages with the Bank of Ghana, a core capitalization amount of 400 million Ghana Cedis (GH₵) is secured in an escrow account. Funded via seed allocation and budgetary support, the GNCCI urges clear timelines to ensure this capital provides low-interest loans before year-end.
Meanwhile, the Minister of State in charge of Government Communication, Felix Kwakye Ofosu, has disclosed that work towards the establishment of the Women Development Bank is far advanced and is expected to be rolled out this year.
