Development Bank Ghana (DBG) is marking its fifth anniversary with a focus on scaling up activities in key areas that have significantly impacted economic growth and the livelihoods of Ghanaians.

The bank is expanding lending to women-led businesses and young entrepreneurs to create jobs and help improve household living conditions.

Ahead of the media launch of the bank’s fifth anniversary celebrations, the Chief Executive Officer of DBG, Professor Randolph Nsor-Ambala, and his team paid a courtesy call on the Multimedia Group Limited to strengthen the bank’s partnership with the media and support the achievement of its objectives.

Prof. Nsor-Ambala cited, for example, that lending to women-owned businesses has resulted in the creation of decent jobs and sustainable livelihoods.

He added that the bank’s observations show that rapid economic progress can be achieved when women are provided with sufficient funding to expand and grow their businesses.

“We have been able to confirm within our model that lending to women-owned and women-led businesses is actually good business. Beyond the fact that it delivers on all the matrixes around impact, it is also good business, because it has allowed most of these women who usually would have belonged to the vulnerable set for various reason to be able to dream and dream big”, he said.

He announced that DBG, which provides funding to commercial banks for on-lending, will increase lending to women-owned businesses as a catalyst for job creation and to help the bank achieve its mandate.

“This time around, the dream is not about GH₵5,000 or a GH₵10,000 loan facility. The dream is about a US$5 million or a US$10 million loan facility. This are well thought out projects that deliver on the initial aspirations that we have said”.

He added that the bank will embark on a massive campaign to encourage young business owners to dream big and aspire to become global players.

He assured that the bank is ready to provide additional support, beyond financing, to help Ghanaian businesses become competitive on the global stage.

“We want to encourage young people that dreaming is allowed. We will allow them to dream and achieve their dreams. We will walk with them throughout the entire process”, he stressed.

Highlighting other focus areas, Prof. Nsor-Ambala said DBG will intensify its technical assistance to businesses to guide their operations and help them meet market standards.

He recalled that a survey conducted by the bank revealed that one of the greatest needs of businesses is access to technical support.

According to him, the bank is not only supporting businesses financially but is also assessing their critical needs and helping to address them.

“Our entire technical assistance programme is widespread. It covers technical capacity for both the banks and then the end borrowers. It covers advice on structuring, ESG, advise on monitoring, and host of things which the banks so far have acknowledge is very key”, he said.

Receiving the CEO and his team, the Chief Operating Officer of the Multimedia Group Limited, Ken Ansah, pledged the company’s support to DBG.

He added that the Multimedia Group will use its various platforms to help the bank reach more borrowers, particularly women-led businesses.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:

Development Bank Ghana celebrates 5 years with plans to expand in key areas

Suggested for you

More Stories

NPA gives over 60,000 sanitary pads to SHS girls for World Menstrual Hygiene Day

NPA Promises Support for Ghana Armed Forces Command and Staff College 50th Anniversary

NDPC and ISD strengthen partnership for National Development Plan

Enugu residents and sellers cry over high prices of tomatoes, pepper and crayfish

Norway Ambassador Visits NDPC, Praises Ghana's Sustainable Development Work

NDPC boss calls for data-driven governance for UCC Data Literacy Week Launch

Discussion