Development Bank Ghana boosts private sector with over GH¢1billion

Chief Executive Officer of Development Bank Ghana (DBG), Kwamina Duker has disclosed that the bank has invested more than GH¢1 billion in the private sector since it started in June 2022.

He said this investment has helped to strengthen over 80 businesses and create over 6,000 jobs.

He also said that 38 percent of these jobs have benefited women and that the bank's interventions have earned over US$40 million in foreign exchange revenue over the years.

“DBG’s focus goes beyond immediate financial inputs to stress the outputs that our partnerships produce. We are committed to making long-term, viable deals that ensure not only sustainable growth, but also profitability,” he stated.

He made these comments during the 2024 Africa Prosperity Dialogues’ Business and Policy Leaders Dialogues, with the theme ‘Delivering Prosperity in Africa: Produce, Add Value, Trade’. The event was held in Aburi, Eastern Region.

Mr. Duker pointed out that the bank is moving from traditional transactional approaches to those that highlight lasting impact and value creation.

He explained that the DBG is improving the abilities of financial entities to venture into sectors that are usually seen as high-risk.

At the same time, the bank is enabling local businesses to adopt innovation and scalability, he said.

He added that the bank is working with the central bank and the Monetary Authority of Singapore to build a unique platform called the Ghana Integrated Financial Ecosystem (GIFE) to “show how we are building trust through technology”.

“GIFE is key in our efforts to increase financial inclusion and literacy across Africa, providing a secure digital platform that empowers businesses with reliable financial tools and services,” Duker said.

He encouraged African entrepreneurs to use the GIFE to access financial products from different parts of the continent quickly.

He said that with trustworthy credentials, entrepreneurs can easily interact with financial institutions and trade partners, enhancing trust and transparency in every transaction.

“This vision is the essence of the African Prosperity Dialogue: creating a smooth and integrated marketplace supported by trust and digital innovation,” Mr. Duker concluded.

ID/MA

Watch a recap of business stories below:



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.

Click here to follow the GhanaWeb Business WhatsApp channel