John Dramani Mahama highlighted the importance of a Women’s Development Bank as Ghana marked its 69th Independence Anniversary with renewed calls for economic transformation, national unity, and inclusive development. Central to the President’s address was the announcement that the government is in the final stages of establishing a Women’s Development Bank, a specialized financial institution designed to expand access to credit and business support for women entrepreneurs.
The national celebration took place on March 6 at the Jubilee House in Accra, bringing together government officials, diplomats, traditional leaders, members of the security services, and students from across the country. The annual event commemorates the day Ghana gained independence from British colonial rule in 1957, becoming the first country in sub Saharan Africa to achieve political independence.
In his address to the nation, President Mahama emphasized that the proposed Women’s Development Bank will play a significant role in addressing long standing financial barriers faced by women, particularly those operating in the informal sector. According to the President, women entrepreneurs form a vital part of Ghana’s economic foundation but often struggle to obtain affordable financing from traditional banks.
The new bank is expected to provide targeted financial services tailored to women led enterprises. These services will include accessible loans, mentorship programmes, and business development support aimed at strengthening small and medium sized enterprises run by women. Mahama noted that empowering women economically can have far reaching benefits, not only improving household welfare but also boosting national productivity and economic resilience.
The initiative is being spearheaded under the leadership of Vice President Jane Naana Opoku-Agyemang, who has been coordinating efforts to establish the financial institution as part of the government’s broader strategy to promote gender inclusive economic growth. The Vice President, the first woman to hold the office in Ghana’s history, has been actively involved in policies aimed at expanding opportunities for women and youth across the country.
President Mahama explained that the Women’s Development Bank will help bridge the financing gap that many female entrepreneurs encounter when seeking capital to start or expand businesses. By providing specialized financial products and advisory services, the bank is expected to enable women to scale their enterprises, create jobs, and contribute more significantly to Ghana’s economic development.
The announcement formed part of a broader message delivered by the President during the Independence Day celebrations. Mahama stressed that Ghana’s independence should not only be remembered as a historic milestone but also as a reminder of the responsibility citizens share in building a prosperous and equitable nation. He urged Ghanaians to remain committed to national development, emphasizing that progress requires collective effort from government, private sector actors, and the general public.
In addition to highlighting the Women’s Development Bank, the President spoke about the government’s wider economic reform agenda. Among the initiatives referenced was the implementation of a 24 hour economy policy designed to expand industrial productivity and create employment opportunities across multiple sectors. The policy aims to encourage businesses to operate beyond traditional working hours, thereby increasing production capacity and generating new jobs.
Mahama also emphasized the importance of regional economic cooperation, pointing to the opportunities created by the African Continental Free Trade Area, whose headquarters are located in Accra. He noted that the continental trade pact presents a historic opportunity for African economies to expand trade, promote innovation, and strengthen economic integration across the continent.
During the ceremony, the President paid tribute to Ghana’s founding leaders, particularly Kwame Nkrumah, whose leadership was instrumental in the country’s independence struggle. Mahama reminded citizens that the achievements of past generations should inspire renewed commitment to national unity and development.
He also outlined a long term vision for Ghana that includes accessible education, affordable healthcare, modern infrastructure, and environmental sustainability. According to the President, the country must work toward a future where opportunities are determined by merit rather than connections, and where economic growth translates into improved living standards for all citizens.
Looking ahead, Mahama encouraged Ghanaians to use the Independence Day celebration as a moment of reflection and determination. As the nation approaches its 70th anniversary of independence next year, he called on citizens to strengthen their dedication to nation building and to contribute positively in their respective fields.
Ultimately, the establishment of the Women’s Development Bank represents a key component of the government’s strategy to promote inclusive economic growth. By expanding financial access for women entrepreneurs, policymakers hope to unlock new opportunities for innovation, job creation, and sustainable development across the country.
As Ghana celebrates nearly seven decades of independence, initiatives such as the Women’s Development Bank reflect ongoing efforts to translate political freedom into economic empowerment and long term national prosperity.