Finance expert, Enyonam Adzo Apetorgbor
A finance expert, Enyonam Adzo Apetorgbor, has called for the conversion of Development Bank Ghana (DBG) into a Women’s Development Bank (WDB) to enhance efficiency and better address the country’s development financing needs.
According to Adzo Apetorgbor, transforming DBG into a gender-focused development finance institution (DFI) would accelerate financial inclusion, attract targeted international funding and maximise economic benefits.
She added that a WDB would provide tailored financial solutions to women entrepreneurs, particularly small and medium-sized enterprises (SMEs), which often face credit barriers such as high collateral requirements and gender-based lending biases.
She also highlighted the potential for greater economic and social impact, citing studies that show women reinvest up to 90 percent of their income into families and communities. A gender-focused bank, she argued, would drive GDP growth, create jobs and contribute to poverty reduction more effectively than a generalist development bank.
Additionally, Ms. Apetorgbor noted that DBG’s current wholesale banking model lacks the sectoral depth needed for transformative change. Merging its mandate into a Women’s Development Bank, she said, would streamline operations, eliminate inefficiencies and provide clearer policy direction.
She also pointed out that global financial institutions, including the International Finance Corporation (IFC), the African Development Bank (AfDB), UN Women and the World Bank, prioritise funding for women-focused financial programs.
Establishing a WDB would position Ghana as a leader in gender-responsive financing and attract significant concessional capital.
To implement the transition, she proposed a legislative and policy review to align DBG’s structure with a gender-focused mandate, reallocation of resources to fund women-owned enterprises, and strategic partnerships with global donors and investors to expand capital and technical support.
Ms. Apetorgbor urged the Minister of Finance to consider the move as a strategic policy decision that would drive faster economic growth, strengthen financial inclusion, and support sustainable national development.
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