DBG stokes growth with over GH¢1bn investment

The Development Bank Ghana has injected more than GH¢1billion into the private sector since its inception in June 2022, its Chief Executive Officer, Kwamina Duker, has revealed.

This investment, he noted, has played a pivotal role in fortifying over 80 businesses, resulting in the creation of over 6,000 jobs.

Thirty-eight percent of these jobs have empowered women. Additionally, its interventions have generated substantial foreign exchange revenue exceeding US$40million over the years.

As explained by the CEO, “DBG’s focus extends beyond immediate financial inputs to emphasise the outputs that our collaborations yield. We are committed to forging long-term, bankable deals that guarantee not only sustainable growth, but also profitability”.

He made these remarks during the 2024 Africa Prosperity Dialogues’ Business and Policy Leaders Dialogues, themed ‘Delivering Prosperity in Africa: Produce, Add Value, Trade’. It was held in Aburi, Eastern Region.

Prioritising lasting impacts

Mr. Duker highlighted that the bank is shifting from conventional transactional approaches to those that emphasise enduring impact and value generation.

In the pursuit of “de-risking the financing landscape”, he explained that the DBG is enhancing the capabilities of financial entities to explore sectors traditionally considered high-risk.

Simultaneously, the bank is empowering local businesses to adopt innovation and scalability, he states.

He added that together with the central bank and the Monetary Authority of Singapore, DBG is building a unique platform code-named the Ghana Integrated Financial Ecosystem (GIFE) to “serves as a prime example of how we are building trust through technology”.

“GIFE is pivotal in our efforts to enhance financial inclusion and literacy across Africa, providing a secured digital platform that empowers businesses with reliable financial tools and services,” Duker stated.

Achieving prosperity is our only plan

He urged African entrepreneurs to utilise the GIFE to access financial products from various parts of the continent swiftly.

With reliable credentials, he said entrepreneurs can effortlessly interact with financial institutions and trade partners, promoting confidence and transparency in every transaction.

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

The post DBG stokes growth with over GH¢1bn investment appeared first on The Business & Financial Times.

Read Full Story