Women-owned businesses take over 60% of DBG’s GH¢2.5bn lending

The Development Bank Ghana (DBG) has disbursed more than GH¢2.5 billion since its establishment, with over 60% of the funding directed towards women-led and women-owned businesses. Chief Executive Officer Prof Randolph Nsor-Ambala revealed this on Joy News’ PM Express Business Edition. He also mentioned that more than 50% of the bank's total disbursements have been allocated to agribusiness, agriculture, and manufacturing sectors.

Additionally, 40% of the disbursements have been dedicated to micro, small, and medium enterprises. Prof Nsor-Ambala emphasized that the bank's financing strategy targets sectors vital to Ghana's economic transformation, which he believes are crucial for achieving the country's industrialization goals. As of now, the bank has reached nearly 1,000 businesses through its financing programs, with approximately 50% of these businesses located outside the Greater Accra Region.

DBG's interventions are guided by studies and data regarding the sectors needed to transform Ghana's economy and generate decent jobs. The bank's focus areas encompass agriculture, manufacturing, ICT, and high-value services, which include education, health, transportation, and tourism. These sectors have substantial growth potential but face market failures and financing constraints that necessitate targeted interventions, as they cannot solely rely on private capital or funds.

Prof Nsor-Ambala highlighted that agriculture is a primary focus for DBG, with investments aimed at creating jobs, enhancing food security, and alleviating economic pressures from imports. The bank targets specific value chains in agriculture, such as maize, rice, cassava, sorghum, and poultry, due to their significant contribution to achieving the desired outcomes.