The Member of Parliament for Sagnarigu, Issah Atta, has addressed concerns over the government's allocation of GH¢51 million as seed capital for the Women's Development Bank, clarifying its purpose and scope.
According to him, the bank is designed to bridge the funding gap in Ghana's local trading sector, particularly for small-scale traders, rather than function as a traditional commercial bank like the Agricultural Development Bank (ADB) or others that focus on investment and trade financing.
He emphasized that the real challenge lies in providing financial support to ordinary Ghanaians, especially women, who require small amounts-such as GH¢500-to start or sustain their businesses.
His remarks follow criticism from Ofoase/Ayirebi MP Kojo Oppong Nkrumah, who questioned the government's prioritization and described the allocated amount as inadequate for such a significant initiative.
