Timing For Establishment Of ‘Women’s Development Bank’ Not Conducive – New Juaben North MP

Member of Parliament for New Juaben North, Nana Osei-Adjei has developed keen interest in the government’s proposed Women’s Development Bank.

He has raised concerns about timing of the initiative 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 by the government.

“I am readily awaiting the modalities government intends to use in creating the bank.”

“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”, Hon. Osei-Adjei stated.

The MP emphasized such initiative deserves careful consideration taking into account the country’s current economic challenges.

“While I commend the vision behind this project, I believe we must also be pragmatic about our current economic situation.”

“The establishment of any new financial institution requires substantial capital investment and careful planning, especially in these challenging times”, he noted.

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 capitalization, 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 supporting financial inclusion for women entrepreneurs question whether Ghana’s current economic environment is conducive for establishing new financial institutions.

The Ministry of Finance is expected to provide further details on the proposed bank in the coming weeks.

Source: Ghmessenger.com