DBG channels billions into businesses private banks struggle to finance

The Development Bank of Ghana (DBG) has been actively financing businesses since its inception, with a particular focus on critical sectors vital to Ghana's economic growth. According to DBG CEO, Prof Randolph Nsor-Ambala, the bank's financing attempts to bridge the gap where private capital has fallen short. In an interview with Joy News, Prof Nsor-Ambala revealed that over 60% of DBG's disbursements have gone to women-led and women-owned businesses, while more than half have been allocated to agribusiness, agriculture, and manufacturing.

These sectors have also seen a significant portion, approximately 40%, of the bank's investments. Prof Nsor-Ambala emphasized that the bank's interventions are directed at areas crucial for Ghana's industrialization efforts, which include agriculture, manufacturing, ICT, and high-value services such as education, health, transportation, and tourism.

These services, though promising, face market failures and constraints that require targeted assistance. A major beneficiary of DBG's financing has been agriculture, with investments aimed at creating jobs, enhancing food security, and reducing the economic burden of imports. The investments focus on various value chains, particularly in maize, rice, cassava, sorghum, and poultry production.

The bank's performance has garnered positive feedback from key stakeholders and development partners, with the Minister for Finance expressing high expectations while acknowledging the bank's achievements over the past five years.