The Development
Bank Ghana (DBG) has indicated that it is committed to enhancing strategic
measures to resolve the bottle necks that limit economic resilience in the
country.
The Development
Bank explains that stimulation techniques towards economic transformation must
be championed across all sectors of the economy including agricultural to spur
economic growth.
Speaking at the
DBG- UGBS Development Finance Dialogue Series in Accra, the Deputy Chief
Executive Officer of the Development Bank Ghana, Michael Mensah- Baah assured
of the bank’s preparedness in building a financial ecosystem that will inspire
women and young entrepreneurs towards inclusive growth.
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“The word
inclusive is also extremely important; we cannot all benefit and thrive if some
groups are underserved,”
“Supporting
Women-led businesses, for example, is a core part of DBG’s focus. We are
partnering with Ghana Enterprise Agency to support female entrepreneurs through
providing customized capacity building for women led businesses. We are also
focusing on supporting young entrepreneurs; there is enormous potential here,”
Michael Mensah-
Baah further highlighted DBG’s investment support already activated to support
food security in Ghana.
“We have already
invested 300 million cedis to local Industries and we have also committed half
a billion cedis to long term funding to be invested in the maize, soyabean and
poultry value chain in the next 12 to 18 months,” he said.
Meanwhile, an Associate professor at the university of Ghana Business School, Professor Vera Fiador is urging stakeholders to leverage on development financing to address the structural gaps in the financial market.
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“Our markets are
not really structured to provide us with the needed access to finance that is
seen in developed economies. The private sector capital market work quite
efficiently at such places, so they always evolve and come out with products,”
she said.
“In our case, we
have not gotten to that stage yet so development finance tries to bridge the
gaps: So if we could harness development finance adequately, then we will get
to the point where we will be able to develop the various markets that will
speak to both the public and private sector needs,” he added.
On his part, the
Chief Executive Officer of Consolidated Bank Ghana, Daniel Addo, underscored
the need for innovation in rolling out development finance.
The DBG- UGBS
Development Finance Dialogue Series under theme: Deepening Development Finance
Knowledge, Innovation and Impact was preceded with the signing of a MoU
between the Development Bank Ghana and the University of Ghana Business School
to bridge the gap between industry and academic research policy.
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