Dr Mohammed Amin Adam, former Finance Minister, has raised concerns about the government's proposal to establish a Women's Development Bank, questioning its feasibility and financial backing.
Speaking on the initiative in an interview with Bernard Avle on The Point of View on Channel One TV on Monday, March 17, 2025, he highlighted the significant gap between the allocated budget and the required capital for such an institution. "There is also the Women Development Bank idea, which was to support our women to do trade and meaningful vocation, creating jobs for themselves, which I also think cannot be delivered," he stated. "How can you promise to set up a development bank for women and then allocate only GHS51 million towards the establishment of this bank when the minimum capital requirement for establishing a universal bank is GHS400 million?" He further explained that development finance institutions, like the proposed Women's Development Bank, typically require even higher capital. "The minimum capital requirement ranges between GHS600 million and GHS1.2 billion.
In fact, the least of them is the guaranteed development finance institutions, which is GHS300 million.
So this is just deceptive," he added.
