In a significant stride towards fostering sustainable development, Development Bank Ghana (DBG) hosted a notable delegation from the Bundestag (Federal Parliament) of Germany.
Led by Mr. Volkmar Klein, Member of Parliament representing the State of North Rhine-Westphalia, and Mr. Lutz Lienenkämper, the State’s former Finance Minister, the delegation engaged in a strategic dialogue with DBG officials.
The meeting also saw the participation of Mrs. Ramona Simon, Deputy Head of Cooperation at the German Embassy in Ghana, and representatives from KfW Development Bank, namely, Ms. Sarah Christin Petrenz and Mr. Isaac Hagan.
The discussions centered around DBG’s forward-looking initiatives, particularly focusing on the Green Finance & Investment Facility and the DBG Guarantee product. These initiatives underscore DBG’s commitment to promoting economic resilience and sustainability in Ghana.
The Green Credit Line, financed by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by KfW, is set to commence implementation in the second quarter of 2024 in Ghana. This initiative is expected to complement DBG’s efforts in green financing, further advancing the country’s sustainability agenda.
One of the focal points of the meeting was the introduction of the upcoming 3i Africa Summit, scheduled to take place from May 13th to 15th, 2024, in Accra. The summit, poised to be a ground-breaking event, will spotlight technology opportunities within Africa’s financial sector. It aims to delve into market dynamics, the adoption of innovative technologies, and the pivotal dialogues required at the nexus of policy, finance, and technology.
With a core emphasis on inclusivity and sustainability, the 3i Africa Summit endeavors to catalyze meaningful discourse and actionable insights for the continent’s financial ecosystem. By convening stakeholders from across sectors and geographies, the summit seeks to foster collaboration and drive tangible progress towards a more robust and inclusive financial landscape in Africa.
Insights Into DBG’s Operational Strategies
The DBG team, led by Deputy Chief Executive Officer, Michael Mensah-Baah and including key officials such as Chief Risk Officer, Dr. Prince Adjei, and heads of various strategic departments, shared insights into DBG’s operational strategies and its vision for a transformative impact in collaboration with its partners.
Reflecting on the discussions, Michael Mensah-Baah remarked, “The German Government, through KfW has been very supportive of DBG and its efforts to foster economic growth by empowering local businesses”.
“We have had fruitful discussions on our operations, our agenda for 2024 and how we are positioned for greater impact through our lending activities and technical assistance to local businesses in collaboration with our partner banks and agencies respectively. We look forward to our on-going collaboration and believe that together with our German partners, we will be able to deliver significant transformation. We are primed for this.”
Michael Mensah-Baah
Mr. Volkmar Klein, MP from the German State of North Rhine-Westphalia, on the other hand, commended DBG on the work itis doing and how far DBG has come.
Development Bank Ghana is a wholesale financial institution established by the Government of Ghana.
DBG acts as a provider of long-term capital to the market with a mission to foster strong partnerships to finance economic growth, create jobs, and build capacity for SMEs.
The organisation is committed, aligned and strengthened to achieve UN Sustainable Development Goals (SDGs) ambitions and targets while implementing Environmental, Social, and Governance (ESG) strategy aimed at creating shared value and impact with purpose.
The bank has received funding from the World Bank, European Investment Bank, KfW Development Bank and the African Development Bank.
