I write to propose a strategic realignment of the dormant and unstrategic Development Bank Ghana (DBG) created by Mr. Ken Ofori-Atta into the purposeful Women Development Bank (WDB) to better address Ghana’s development financing needs while enhancing efficiency and impact.

Given Ghana’s economic realities, merging DBG into a gender-focused development finance institution will accelerate financial inclusion, unlock targeted international funding, and maximize economic benefits such as:

1. Persistent Credit Barriers for Women Entrepreneurs: Women-led businesses, particularly SMEs, face higher collateral requirements, limited access to credit, and gender-based lending biases. A Women Development Bank will directly address these barriers by providing tailored financing, lower interest rates, and structured business development support.

2. Higher Economic and Social Impact: Studies show that women reinvest up to 90% of their income into families and communities, creating stronger economic and social ripple effects. A gender-focused DFI will generate higher GDP growth, job creation, and poverty reduction compared to a generalist development bank.

3. More Effective Use of Public Resources: DBG’s broad wholesale banking model lacks the sectoral depth needed for transformative change. Consolidating its mandate into a Women's Development Bank will streamline operations, eliminate inefficiencies, and provide clearer policy direction.

4. Attracting Targeted International Funding: Global financial institutions such as IFC, AfDB, UN Women, and the World Bank prioritize funding for women-focused financial programs. A Women Development Bank will position Ghana as a leader in gender-responsive financing and attract significant concessional capital.

Implementation Strategy

● Legislative & Policy Review: Align DBG’s structure with a gender-focused mandate.

● Resource & Asset Reallocation: Shift DBG’s portfolio to fund women-owned enterprises.

● Strategic Partnerships: Engage global donors and investors to expand capital and technical support.

Ghana’s development finance architecture needs targeted, efficient, and high-impact interventions. Merging DBG into a Women's Development Bank will ensure faster economic growth, stronger financial inclusion, and sustainable national development.

I urge the Minister for Finance to consider this transition as a strategic, purposeful and time-saving policy decision.