Director of Communications of the NPP, Richard Ahiagbah
The Director of Communications of the New Patriotic Party (NPP), Richard Ahiagbah, has stated that the establishment of the Women’s Development Bank, as announced by the government, is dead on arrival.
He argues that the GH¢51.3 million allocated for the creation of the bank is woefully inadequate to establish a bank in Ghana.
In a post shared on his X page, Ahiagbah said, “The Women’s Development Bank is dead on arrival because the allocated GH¢51.3 million cannot establish a bank in Ghana. Women are not a priority for the John Mahama administration… Unfulfilled promise.”
When asked by a follower on X about the government’s announcement of a seed capital for the bank, Ahiagbah responded, “The Bank of Ghana requires GH¢400 million in paid-up capital to establish a bank. So, the government can’t establish a Women’s Development Bank without meeting that capital requirement. The seed capital of GH¢51.3 million cannot start a bank unless they are referring to establishing a savings and loans company. Note that the government cannot spend more than what is budgeted for an initiative.”
The Minister of Finance, Dr. Cassiel Ato Forson, announced in Parliament on Tuesday, March 11, 2025, that the government has earmarked GH¢51.3 million for the establishment of the Women’s Development Bank.
The Women’s Development Bank was one of John Mahama’s key campaign promises ahead of the 2024 general elections, aimed at providing financial support to women-owned businesses in the country.
SP/MA
