Development Bank Ghana Disburses Over GHS 1.5 Billion to Support Ghana’s Private Sector
Development Bank Ghana (DBG) has reached a significant milestone disbursing GHS 1.5 billion to boost the private sector since it began operations in 2021.
The bank, established as a wholesale and long-term financing institution, has channeled funds to over 500 local businesses in pursuit of its mandate to fuel economic growth through enhanced credit access, particularly for SMEs and women-led businesses.
Of the total amount disbursed, some GHS 511 million has been used to support over 350 women-owned or women-led enterprises, with the Deputy Chief Executive Officer of DBG Michael Mensah Baah, disclosing that a further GHS 500 million is set to be allocated to this segment over the next two years.
Making the assertion at the launch of Advans Ghana’s “AdvansHer” programme, Mr. Baah underscored DBG’s commitment to inclusive growth stating that, “In a relatively short time, we’ve been able to channel over GHS 1.5 billion into the private sector. As an inclusive development bank, our goal is to ensure our funds reach diverse beneficiaries, supporting both established firms and smaller women-owned and women-led businesses.”
Through partnerships with commercial banks, rural banks, and savings and loan institutions, DBG’s capital is reaching businesses in all 16 regions of Ghana. By expanding financial access across multiple regions, DBG aims to create a broad-based and sustainable economic impact.
The institution’s collaboration with partner financial institutions, which has now reached 20, enables it to reach traditionally underserved businesses and regions, allowing for more widespread economic inclusion across Ghana’s diverse sectors.
DBG’s funding prioritizes high-impact sectors, particularly agriculture, manufacturing, and essential services like education and health. Already, significant investments have been made to bolster food security, with DBG channeling GHS 250 million into the maize, rice, poultry, and soybean sectors.
According to the Deputy CEO, the impact of DBG’s initiatives has been acknowledged by international development partners, including the World Bank, European Investment Bank, and African Development Bank.
Further asserting that recent meetings in Washington highlighted DBG’s alignment with international development targets, as the aforementioned institutions commended DBG’s rapid progress in closing Ghana’s financing gaps for SMEs.
As DBG scales up its operations, the institution aims to play a transformative role in the nation’s private sector, driving sustainable economic progress through strategic capital deployment and inclusive financing.
