The Development Bank Ghana (DBG) has played a pivotal role in bolstering the private sector, injecting more than GHS1 billion since its inception in June 2022, according to the Chief Executive Officer, Kwamina Duker. This substantial investment has fortified over 80 businesses, resulting in the creation of over 6,000 jobs, with 38% of these jobs empowering women. Additionally, DBG’s interventions have generated significant foreign exchange revenue exceeding US$40 million over the years.
CEO Kwamina Duker emphasized that the bank’s focus extends beyond immediate financial inputs to emphasize long-term impacts and profitability. He made these remarks during the 2024 Africa Prosperity Dialogues’ Business and Policy Leaders Dialogues held in Aburi, Eastern Region, under the theme ‘Delivering Prosperity in Africa: Produce, Add Value, Trade.’
Highlighting the shift from conventional transactional approaches, Duker noted that DBG is prioritizing enduring impact and value generation. The bank aims to de-risk the financing landscape by enhancing the capabilities of financial entities to explore traditionally high-risk sectors while empowering local businesses to adopt innovation and scalability.
Duker also revealed that DBG, in collaboration with the central bank and the Monetary Authority of Singapore, is developing the Ghana Integrated Financial Ecosystem (GIFE). This unique platform is designed to enhance financial inclusion and literacy across Africa, providing a secured digital platform that empowers businesses with reliable financial tools and services.
Encouraging African entrepreneurs to utilize GIFE, Duker highlighted its role in facilitating swift access to financial products from various parts of the continent. With reliable credentials, 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,” concluded CEO Kwamina Duker.