Development Bank Ghana (DBG) has ushered in a new era of leadership with the appointment of Dr. Randolph Nsor-Ambala as the Bank’s new Chief Executive Officer (CEO), effective January 21, 2025.
His appointment signals a renewed commitment to fostering a competitive and resilient private sector in Ghana, positioning DBG as a key enabler of sustainable economic transformation.
Dr. Nsor-Ambala brings a wealth of experience to his new role, having spent several years in executive leadership positions across multiple industries. His extensive corporate background includes serving in leadership roles at Promasidor Ghana Limited, Coca-Cola, Diageo, and MTN. Beyond the corporate space, he has been instrumental in numerous development initiatives across key sectors, including agriculture, manufacturing, education, ICT, governance, energy, and health.
Over the past fifteen years, Dr. Nsor-Ambala has worked on development projects funded by global development partners, aiming to position the private sector as the engine of economic growth. His work has focused on improving gender parity, addressing climate change, and creating opportunities for marginalized, underserved, and vulnerable communities.
Dr. Nsor-Ambala’s appointment marks an important milestone in DBG’s journey. The Board of Directors, led by Chairman Dr. Yaw Ansu, has expressed full confidence in his ability to drive the Bank’s mission forward. Dr. Ansu extended gratitude to the outgoing CEO, Mr. Mireku K. Duker, for his contributions and welcomed the incoming CEO, emphasizing that DBG remains steadfast in its mission to accelerate inclusive and sustainable economic growth.
“As DBG transitions into this new phase, the Bank remains committed to fostering economic resilience and transformation,” Dr. Ansu stated. He highlighted the importance of DBG’s role in unlocking opportunities for businesses across various sectors by improving access to long-term financing.
Strengthening Private Sector Growth
Under Dr. Nsor-Ambala’s leadership, DBG aims to be more innovative and catalytic in its approach to impact investing and technical assistance. The Bank is expected to scale up initiatives that enhance access to finance for businesses, particularly in key industries such as agribusiness, manufacturing, ICT, and high-value services.
A significant focus will also be placed on fostering women’s economic empowerment by supporting female entrepreneurs with financial and technical resources. Additionally, the Bank will reinforce its commitment to environmental sustainability by promoting green finance and aligning its operations with Environmental, Social, and Governance (ESG) best practices.
Since its establishment three years ago, DBG has played a crucial role in supporting Ghanaian businesses through its wholesale financing model. By partnering with Participating Financial Institutions (PFIs), the Bank has facilitated significant disbursements to businesses, unlocking projects and strengthening value chains.
A key area of focus for DBG has been bridging the financing gap for Micro, Small, and Medium Enterprises (MSMEs). By ensuring that businesses have access to long-term, competitively priced capital, DBG has contributed to fostering resilience, innovation, and sustainable growth within Ghana’s private sector.
As the Bank moves forward under Dr. Nsor-Ambala’s leadership, it is poised to accelerate its efforts in driving transformative growth. The emphasis will be on building a more robust financial ecosystem that supports business expansion, job creation, and economic inclusion.
With Dr. Nsor-Ambala at the helm, DBG is expected to reinforce its role as a development finance institution that champions sustainable economic transformation. His leadership will be instrumental in shaping policies and strategies that promote financial inclusion, gender equity, and environmentally responsible investments.
As Ghana navigates its economic future, the role of DBG in providing long-term capital and strategic financial solutions will be more critical than ever. The appointment of Dr. Nsor-Ambala marks the beginning of a new chapter—one that promises innovation, inclusivity, and sustained economic progress for businesses across the country.
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