Development Bank Ghana (DBG) is celebrating its fifth anniversary by significantly scaling up its activities in critical areas identified as drivers of economic growth and improved livelihoods across Ghana. This strategic pivot includes a heightened focus on expanding lending to women-led businesses and young entrepreneurs, aiming to stimulate job creation and enhance household economic stability.
Context: DBG’s Mandate and Evolution
Established to address a critical gap in Ghana’s financial landscape, DBG operates as a wholesale development bank. Its primary function is to provide funding to participating financial institutions (PFIs), which then on-lend to businesses across various sectors. The bank’s inception was driven by the need to foster sustainable economic development and create employment opportunities, particularly for small and medium-sized enterprises (SMEs) that often struggle to access adequate financing from traditional commercial banks.
Over its first five years, DBG has focused on building its operational framework and establishing partnerships. The anniversary marks a transition from foundational setup to a more aggressive phase of activity, aiming to amplify its impact on the ground.
Scaling Up Support for Women and Youth
A central theme of DBG’s fifth-anniversary focus is the expansion of financial support to women-owned and women-led businesses. Professor Randolph Nsor-Ambala, CEO of DBG, highlighted during a recent engagement with the media that lending to these enterprises has proven to be not only impactful in creating jobs and sustainable livelihoods but also a sound business strategy. He noted that providing sufficient capital empowers women to expand their operations, moving beyond small-scale ventures to potentially accessing loan facilities of millions of dollars.
Leave a Reply