New juaben north legislator awaits government’s implementation plan amid economic concerns
The member of parliament for new juaben north, Nana Osei-Adjei, has expressed keen interest in the government’s proposed Women’s Development Bank, while raising concerns about its timing given Ghana’s current economic climate.
Speaking to reporters, the first-time lawmaker indicated that while he supports the concept, he is eager to learn about the specific implementation strategy the government intends to employ.
“I am readily awaiting the modalities Government intends to use in creating the Bank,” Hon. Osei-Adjei stated. “The establishment of a special-purpose bank to support women-owned and women-led businesses with low-interest loans and other tailored financial services on very flexible terms is indeed a laudable initiative.”
However, the MP emphasized that the timing of such an initiative deserves careful consideration in light of the country’s ongoing economic challenges.
“While I commend the vision behind this project, I believe we must also be pragmatic about our current economic situation,” he noted. “The establishment of any new financial institution requires substantial capital investment and careful planning, especially in these challenging times.”
The proposed Women’s Development Bank aims to bridge the financing gap faced by women entrepreneurs across the country by providing accessible and affordable credit options specifically designed for their needs.
The government has not yet released detailed plans regarding the bank’s capitalisation, governance structure, or operational timeline. Economic analysts suggest that such information will be crucial in assessing the feasibility and potential impact of the initiative.
Osei-Adjei joins a growing number of stakeholders who, while supportive of expanded financial inclusion for women entrepreneurs, have questioned whether Ghana’s current economic environment is conducive to establishing new financial institutions.
The Ministry of Finance is expected to provide further details on the proposed bank in the coming weeks.
