Local currency, Cedi
Deputy Chief Executive of Development Bank Ghana (DBG), Michael Mensah Baah, has said his outfit was looking at investing up to a billion cedis into the productive sectors of the economy by the end of the year.
He explained the investment would help address the financing gap in the country.
Mr Baah said for the potential of the youth to be unleashed, an enabling environment must be created for businesses to thrive.
Speaking at the launch of the Institute of Chartered Accountants Ghana 60th anniversary celebration, Mr Baah said, "Addressing the lack of long-term financing that drives the kind of investment that would lead to sustainable growth is a gap that must be addressed."
He added that, "It is critical that we work to unleash the potential of the youth by creating the right and enabling environment. We are targeting to invest up to a billion cedis into the productive sectors of the economy.”
Speaking in the same vein, President of the Institute of Chartered Accountants Ghana, Sena Dake, entreated accountants to do effective budgeting.
This, she said, will help their businesses remain resilient and withstand any shock(s).
The government established Development Bank Ghana in 2020 in accordance with the Development Finance Act, 2020.
The development finance institution acts as an enabler for businesses in Ghana and as a long-term capital provider in the market.
DBG aims to foster strong partnerships to finance economic growth, create jobs and build capacity for SMEs.
It also provides long-term financing and de-risking services underpinned by technology and evidence-based research.
SA/NOQ
Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.
Watch the latest edition of BizTech and BizHeadlines below:
- Road tolls must come back – Dr. Bawumia declares
- Rare Russian oil cargo unloads in Ghana after three-month wait
- Stephen Amoah's comment on Bawumia resolving economic crisis as President disappointing - BOT
- Cashew industry has become a beacon of hope for economic growth - Raphael Ahenu
- NEIP initiative has transformed entrepreneurship landscape in Ghana - Akufo-Addo
- Read all related articles
