DBG lines up textile deals for credit approval, disbursement before year-end

The Development Bank of Ghana (DBG) is set to support two textile projects with credit approval and disbursement before the conclusion of 2026. These projects are part of five identified from a dedicated textile sector deal room established by DBG and its development partners. DBG's CEO, Prof Randolph Nsor-Ambala, revealed that these five projects have been showcased to various financial institutions for evaluation.

According to him, "our sense is that before the end of the year, at least about two of them would have received credit approval and then disbursement." Textiles is one of DBG's manufacturing priority areas, with the bank also focusing on pharmaceuticals and energy transition. Beyond providing credit, DBG offers market development, capacity building, technical assistance, and policy advocacy to tackle sector challenges.

A Memorandum of Understanding with the Association of Ghana Industries backs DBG's textile sector support, which includes financing and technical assistance to prepare investor-ready projects. DBG's interventions have also led to policy changes, such as the recently approved textiles and garment policy by Parliament after a sector roundtable organized by the bank.

The bank has collaborated with GIZ, Palladium, and JET to boost sector capacity. DBG has conducted a nationwide feasibility study into the sector, identifying challenges and bankable projects. Prof Nsor-Ambala emphasized DBG's strategy to provide value-chain solutions, prioritizing youth-led and women-owned businesses, and extending investments beyond Greater Accra.

Currently, more than 40% of DBG's investments are in hard-to-reach areas outside the Golden Triangle.