The Development Bank Ghana (DBG) has unleashed more than GH¢2.5 billion in development financing since its establishment, with a significant portion of the funds flowing beyond the Greater Accra Region as the institution intensifies efforts to transform Ghana’s productive sectors.
The scale of the intervention highlights DBG’s growing role in supporting businesses considered critical to Ghana’s economic development. According to the bank, almost 1,000 businesses across the country have benefited from its financing interventions.
Chief Executive Officer of DBG, Prof Randolph Nsor-Ambala, disclosed that the bank’s financing strategy is deliberately designed to support sectors with the potential to generate jobs, strengthen domestic production and promote inclusive economic growth.
“As we speak currently, you would have heard the buzz around the fact that we have disbursed in excess of ¢2.5 billion.”
Prof Randolph Nsor-Ambala
Billions Move Beyond Greater Accra
One of the striking aspects of DBG’s intervention is the geographical spread of its financing.
Prof Nsor-Ambala revealed that approximately half of the businesses reached by the bank are located outside the Greater Accra Region, signalling a deliberate attempt to ensure that development financing is not concentrated in the country’s economic capital.
According to him, about 50% of the businesses reached by DBG are located outside Greater Accra. “As we speak, we have a footprint in every region except one,” he said.
The development could provide a major boost to businesses operating in regions where access to affordable long-term financing has traditionally been a challenge.
By extending its reach across the country, DBG is seeking to ensure that businesses in agriculture, manufacturing, services and other productive sectors can access the capital required to expand their operations.
Women-Owned Businesses Take Centre Stage
Women-led businesses have emerged as one of the biggest beneficiaries of DBG’s financing push.
Prof Nsor-Ambala said more than 60% of the bank’s funding has gone to women-led and women-owned businesses, underlining the institution’s commitment to promoting broader participation in economic activity.
He said the financing is also heavily concentrated among micro, small and medium enterprises, which remain crucial to employment creation and private-sector development.
“There are components of those disbursements that have gone into energy transition. There are components, about 40% of that disbursement, has gone into micro, small, and medium enterprises.”
Prof Randolph Nsor-Ambala
The emphasis on MSMEs could prove significant as smaller businesses often face difficulties securing suitable financing from traditional financial institutions.
Agriculture and Manufacturing Get Major Funding
Agriculture and manufacturing have also captured a substantial share of DBG’s interventions.
Prof Nsor-Ambala disclosed that more than half of the bank’s disbursements have gone into agribusiness, agriculture and manufacturing.
The decision reflects the bank’s assessment that these sectors can become powerful engines of employment, industrialisation and domestic production.
DBG has identified several agricultural value chains as priority areas, including maize, rice, cassava, sorghum and poultry. “These are the areas that have taken a chunk of our investments because our analytics is that these contribute to our ability to achieve the very parameters that I’ve spoken,” he said.
The strategy comes at a time when Ghana continues to seek ways to reduce dependence on imported food and strengthen local production.
Food Security Could Ease Economic Pressures
DBG believes investment in agriculture could have benefits extending far beyond farmers and agribusinesses.
Prof Nsor-Ambala argued that increased domestic food production could help Ghana tackle some of the economic pressures associated with inflation, exchange-rate difficulties and import dependence.
Agriculture, he noted, remains particularly important because of its capacity to create decent jobs while improving food security.
“Top among those reasons are jobs that need to be created. And we are here, we are talking about decent jobs that deliver on upward social mobility and economic empowerment.”
Prof Randolph Nsor-Ambala
The focus on food production could therefore become a key component of Ghana’s broader economic transformation agenda.
ICT and High-Value Services Join the Push
DBG’s strategy extends beyond traditional sectors.
Prof Nsor-Ambala said the bank’s focus areas include agriculture, manufacturing, ICT and what it describes as high-value services.
“Our focus areas are essentially agriculture, manufacturing, ICT, and what we call high-value services,” he said.
He explained that high-value services include education, health, transportation and tourism.
“These are the sectors that will contribute massively; we call them growth pole areas, yet they’ve got market failures and binding constraints that require deliberate interventions.”
Prof Randolph Nsor-Ambala
According to the CEO, these sectors possess significant growth potential but require targeted financing because of market failures and other constraints.
Development Partners Back DBG’s Progress
DBG’s achievements have also attracted positive assessments from its international development partners.
The bank has worked with institutions and governments including the World Bank, European Investment Bank, European Union, German government, KfW, African Development Bank, France and Switzerland.
Prof Nsor-Ambala said these partners have expressed satisfaction with DBG’s performance during its first five years.
The positive assessment could strengthen expectations for the bank to expand its interventions and reach even more businesses across Ghana. “The Minister for Finance, for example, says, I expect a lot more from you guys, but I’m happy that you’ve held your own,” Prof Nsor-Ambala said.
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