DBG takes GH¢2.5bn development funding beyond Accra as it pushes industrial transformation

The Development Bank of Ghana (DBG) has dispersed over GH¢2.5 billion in development funding, with a significant portion allocated to businesses outside the Greater Accra Region. The bank's CEO, Prof Randolph Nsor-Ambala, emphasized that these initiatives are strategically aimed at critical sectors driving Ghana's economic transformation.

Nearly 1,000 businesses nationwide have benefited from DBG's interventions thus far. Over 60% of the funding has been directed towards women-led and women-owned enterprises, while more than half has been invested in agribusiness, agriculture, and manufacturing. Around 40% of the disbursements have gone into micro, small, and medium enterprises, with a notable 50% of the beneficiaries located outside Greater Accra.

Prof Nsor-Ambala stated that DBG's focus is based on data-driven insights into sectors capable of fostering sustainable and inclusive economic growth. These sectors include agriculture, manufacturing, ICT, and high-value services such as education, health, transportation, and tourism. High-value services, though facing market challenges, are identified as growth poles requiring deliberate interventions.

Agriculture is a key priority due to its potential for job creation, food security, and economic empowerment. DBG's investments in key agricultural value chains like maize, rice, cassava, sorghum, and poultry aim to enhance domestic production, thereby mitigating inflation, exchange-rate issues, and import dependence. The bank's development partners, including the World Bank, World Investment Bank, European Union, German government, KfW, African Development Bank, France, and Switzerland, have expressed satisfaction with DBG's performance during its first five years.