Ghana's government is actively working to increase women's representation in leadership roles. The Affirmative Action Law 2024 requires at least 30 percent female representation in decision-making positions by the end of 2026. This target will rise to 35 percent by 2028 and eventually reach parity by 2034. Trade Minister Elizabeth Ofosu-Adjare announced these goals at the 2026 Ghana Female CEOs Summit.
The government is supporting these changes through strong legislation, financial backing, and institutional reforms. Minister Ofosu-Adjare stated that this is not about inheriting change but actively driving it. She highlighted that women's economic participation is a strategy for national competitiveness, not just a gender program. The Minister emphasized that ending the era of limiting women's roles in development is crucial for Ghana's future. Her remarks were made on Thursday, May 7, at the Kempinski Hotel Gold Coast City. She addressed an audience of female chief executives, entrepreneurs, and business leaders.
These efforts fit into Ghana's broader economic development strategy. President John Dramani Mahama's administration is focusing on policies that empower women. Economic growth cannot be achieved if women are economically excluded. The Minister noted that women leaders have demonstrated resilience, built businesses, and created jobs. They have navigated economic challenges and contributed significantly to Ghana's growth story. The country's economic ambitions depend on full inclusivity.
The Ghana Women's Development Bank has received a significant allocation. It has been granted GHS 401 million in the 2026 national budget. This fund will provide targeted financial support to women-led enterprises. The bank will offer low-interest loans, mentorship, and flexible collateral arrangements. Minister Ofosu-Adjare described it as the most targeted financial intervention for women in Ghana's history. This initiative aims to ease financial barriers for female entrepreneurs.
Further economic reforms are underway to benefit women. The 24-Hour Economy Authority Act 2026 is a key development. This law establishes a dedicated authority to promote round-the-clock business operations. Key sectors like agro-processing, market trade, hospitality, and manufacturing will see benefits. Women entrepreneurs will gain access to tax incentives and reduced electricity tariffs. Financing support will also be available through EXIM Bank. These measures are designed to enhance operational capacity and market access for women in business.
The Affirmative Action Law 2024 includes additional incentives for the private sector. Companies meeting gender equality targets will receive tax breaks. Compliant businesses will also get preferences in securing government contracts. These provisions encourage private sector participation in advancing gender equality. Minister Ofosu-Adjare sees Ghana's export strategy under the African Continental Free Trade Area (AfCFTA) as an opportunity. Sectors like textiles, garments, and palm oil processing are targeted for expansion. Women often play leading roles in these areas.
The Minister stressed the importance of execution speed for these reforms. She called for collaboration among government institutions, the private sector, and development partners. Government sets the framework and removes barriers. The private sector is expected to invest and innovate. Financial institutions must create suitable financial products. She referred to the female CEOs as partners in national transformation. The government aims to build an economy worthy of its women leaders, creating inclusive and resilient industries.