• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

DBG increases lending portfolio by GHS 57.2m in Q1 2023

2 years ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
112
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

DBG increases lending portfolio by GHS 57.2m in Q1 2023

The Development Bank Ghana (DBG) has announced an increase in its lending portfolio for the first quarter of 2023, signaling its commitment to supporting the growth and development of businesses in Ghana.

The bank disbursed GH₵57.2 million to three participating financial institutions (PFIs) for on-lending to SMEs in the agriculture and manufacturing sectors, bringing its loan book size to GH₵302 million.

This achievement was made known by the CEO of DBG, Kwamina Duker, at an event organized by the DBG and the Ghana Association of Banks (GAB) themed “Ghana’s Medium Term Outlook: Navigating through Economic Uncertainties amid an IMF Programme” held on Thursday, April 13, 2023.

Despite the prevailing macroeconomic uncertainties that have compelled banks to take a more cautious approach to lending to SMEs, thus affecting the ability of SMEs to access credit and plan for growth, Mr. Duker announced that the bank’s first priority for 2023 is to accelerate lending activities, with DBG committed to disbursing at least GHS 600 million in loans to its PFIs for on-lending to SMEs.

This commitment by DBG is remarkable, considering the challenges faced by Ghana’s economy in the previous year, which saw reduced GDP growth, a contracting manufacturing sector, and slower expansion in both the agriculture and services sectors. Furthermore, high inflation and interest rates have dampened private consumption and investment, while the implementation of the Domestic Debt Exchange Programme has placed additional pressure on the banking sector, impacting its capacity to preserve capital adequacy and guarantee liquidity.

DBG’s commitment to supporting the growth and development of businesses in Ghana is not limited to increased lending activities. The bank has also initiated the development of the DBG Green Climate Investment Programme, which aims to provide financing solutions for green and climate-resilient projects, contributing to the nation’s efforts to combat climate change. Also, the timely launch of the partial credit guarantee subsidiary in the third quarter of the year will provide PFIs with an additional layer of support, allowing them to better manage risks associated with loan defaults while continuing to serve the SME sector effectively.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Meanwhile, DBG has onboarded Zenith Bank as its latest PFI, expanding its network of partners and enhancing its ability to reach more SMEs across various sectors. The bank has completed due diligence and is on course to onboard Ecobank and Absa as new PFIs this month, with plans to onboard more PFIs to enhance its reach and ability to support SMEs across the country. DBG aims to have at least 10 PFIs by the end of the year.

Additionally, the DBG has provided capacity building to 644 local businesses, including 444 young entrepreneurs, and 52 staff from 13 financial institutions during the quarter. This training focused on various aspects of business management, entrepreneurship, and specialized lending to improve the sustainability and growth potential of SMEs, as well as enhance the lending capabilities of PFIs.

DBG’s commitment to supporting the growth and development of businesses in Ghana is a testament to its dedication to fostering economic growth in the country. The bank’s increased lending portfolio, launch of the partial credit guarantee subsidiary, development of the DBG Green Climate Investment Programme, onboarding of new PFIs, and capacity building initiatives are all part of a comprehensive strategy to support the SME sector and contribute to the country’s economic development.

Despite the challenges faced by Ghana’s economy, DBG remains steadfast in its commitment to supporting the growth and development of businesses in Ghana, and its efforts are expected to yield positive results in the long run.

Tags: DBGDBG increases lending portfolio by GHS 57.2m in Q1 2023IMFSMEs
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.