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| type = [[Parastatal]]
| type = [[Parastatal]]
| owner = Government of Ghana
| owner = Government of Ghana
| foundation = {{Start date and years ago|2021|df=y}}
| foundation = {{Start date and age|2021|df=y}}
| location = Accra Financial Center<br/>Liberia Road, [[Accra]], [[Ghana]]
| location = Accra Financial Center<br/>Liberia Road, [[Accra]], [[Ghana]]
| key_people = '''Yaw Ansu'''<br/>[[Chairman]]<br/>'''Kwamina Duker'''<br/>[[Chief Executive Officer]]
| key_people = Yaw Ansu ([[Chairman]])<br/>Kwamina Duker ([[Chief Executive Officer]])
| num_employees = 40 (2022)
| num_employees = 40 (2022)
| industry = [[Finance]]
| industry = [[Finance]] [[Banking]]
| revenue =
| revenue =
| assets = US$800 million (2022)
| assets = US$800 million (2022)
Line 18: Line 18:
}}
}}


The '''Development Bank Ghana''' ('''DBG''') is a government-owned [[International financial institutions|development bank]] in [[Ghana]]. Owned by the government of Ghana, the institution has received grants and loans for on-lending to Ghana's commercial banks, from the [[African Development Bank]], the [[World Bank Group]], the [[European Investment Bank]], and the [[KfW|German Development Bank]]. The DBG focuses on providing indirect loans to [[small and medium enterprises]] (SMEs), with less than 100 employees each.<ref name="1R">{{cite web| work=[[Reuters.com]] | url=https://www.reuters.com/world/africa/ghana-development-bank-aims-lend-600-mln-small-firms-over-1-2-years-2022-06-14/ |title=Ghana development bank aims to lend $600 million to small firms over 1-2 years |date=14 June 2022 |author=Rachel Savage | access-date=17 June 2022 |location=London, United Kingdom}}</ref><ref name="2R">{{cite web| url=https://www.kfw-entwicklungsbank.de/About-us/News/News-Details_686208.html |title=A new engine for Ghana's economic transformation - the Development Bank Ghana |date=15 December 2021 |work=[[KfW|German Development Bank]] |access-date=17 June 2022 |author=KfW |location=Frankfurt, Germany}}</ref>
The '''Development Bank Ghana''' ('''DBG''') is a government-owned [[International financial institutions|development bank]] in [[Ghana]]. Owned by the government of [[Ghana]], the institution has received grants and loans for on-lending to Ghana's commercial banks, from the [[African Development Bank]], the [[World Bank Group]], the [[European Investment Bank]], and the [[KfW|German Development Bank]].<ref>{{cite web|url= https://www.myjoyonline.com/bright-simons-a-new-development-bank-in-ghana-raises-old-issues/|title= Bright Simons: A new development bank in Ghana raises old issues|website=myjoyonline.com|date= 2 May 2023|access-date=2023-09-29}}</ref> The DBG focuses on providing indirect loans to [[small and medium enterprises]] (SMEs), with less than 100 employees each.<ref name="1R">{{cite web| work=[[Reuters.com]] | url=https://www.reuters.com/world/africa/ghana-development-bank-aims-lend-600-mln-small-firms-over-1-2-years-2022-06-14/ |title=Ghana development bank aims to lend $600 million to small firms over 1-2 years |date=14 June 2022 |author=Rachel Savage | access-date=17 June 2022 |location=London, United Kingdom}}</ref><ref name="2R">{{cite web| url=https://www.kfw-entwicklungsbank.de/About-us/News/News-Details_686208.html |title=A new engine for Ghana's economic transformation - the Development Bank Ghana |date=15 December 2021 |work=[[KfW|German Development Bank]] |access-date=17 June 2022 |author=KfW |location=Frankfurt, Germany}}</ref> A key area of interest in their immediate and long term plans is environment, social and governance focus to help build a sustainable economy in [[Ghana]].<ref name="dbg.com.gh">{{Cite web |title=Sustainability – Development Bank Ghana (DBG) |url=https://www.dbg.com.gh/sustainability/ |access-date=2023-09-13 |language=en-US}}</ref> Fostering solid collaborations to support growth in the economy, generate jobs, and strengthen the capabilities of SMEs is the goal of DBG. DBG offer de-risking services and long-term funding, supported by technology and research and insights that are founded on solid facts. DBG additionally aims to draw in, nurture, and keep talented individuals. Run as a self-sufficient, eminently successful institution. Last but not least, DBG encourage ESG excellence within the companies we sponsor.<ref>{{Cite web |title=Who We Are – Development Bank Ghana (DBG) |url=https://www.dbg.com.gh/who-we-are/ |access-date=2023-09-28 |language=en-US}}</ref>


==Overview==
==Overview==
DBG was established in 2021, to provide loans to commercial banks and other financial institutions in Ghana, for on-lending to Ghanaian SMEs. The institution is owned by the Ghanaian government. Funding support has been received from international development institutions as detailed in the previous section. As of June 2022, DBG's total assets were valued at almost US$800 million. At that time, shareholders' equity was US$250 million).<ref name="3R">{{cite web|url=https://www.esi-africa.com/industry-sectors/finance-and-policy/catalysing-sme-growth-in-ghana-through-a-development-bank/ |title=Catalysing SME growth in Ghana through a Development Bank |work=ESI-Africa.com |date=16 June 2022 |author=Theresa Smith |access-date=17 June 2022 |location=Cape Town, South Africa}}</ref><ref name="4R">{{cite web|url=https://ghanatoday.gov.gh/business/development-bank-ghana-secures-800-million-from-shareholders-ready-to-kick-start-operations/ |title=Development Bank Ghana secures $800 million from shareholders …ready to kick-start operations |
DBG was established in [[July]] 2021,<ref name=":0">{{Cite web |last=Awal |first=Mohammed |date=2021-07-21 |title=Does Ghana need new Development Bank? |url=https://thebftonline.com/2021/07/21/does-ghana-need-new-development-bank/ |access-date=2023-08-24 |website=The Business & Financial Times |language=en-GB}}</ref> to provide loans to commercial banks and other financial institutions in Ghana, for on-lending to Ghanaian SMEs. The institution is owned by the Ghanaian government. Funding support has been received from international development institutions, as detailed in the previous section. As of [[June]] 2022, DBG's total assets were valued at almost $800 million. At that time, shareholders' equity was US$250 million).<ref name="3R">{{cite web|url=https://www.esi-africa.com/industry-sectors/finance-and-policy/catalysing-sme-growth-in-ghana-through-a-development-bank/ |title=Catalysing SME growth in Ghana through a Development Bank |work=ESI-Africa.com |date=16 June 2022 |author=Theresa Smith |access-date=17 June 2022 |location=Cape Town, South Africa}}</ref><ref name="4R">{{cite web|url=https://ghanatoday.gov.gh/business/development-bank-ghana-secures-800-million-from-shareholders-ready-to-kick-start-operations/ |title=Development Bank Ghana secures $800 million from shareholders …ready to kick-start operations |
work=Ghanatoday.gov.gh |date=14 June 2022 |author=Ghana Today | access-date=17 June 2022 |location=Accra, Ghana}}</ref>
work=Ghanatoday.gov.gh |date=14 June 2022 |author=Ghana Today | access-date=17 June 2022 |location=Accra, Ghana}}</ref>


As of June 2022, four commercial banks had signed on to accept funds from DBG, for on-lending to eligible businesses, (a) [[CalBank]] (c) [[Consolidated Bank Ghana]] (c) [[GCB Bank|Ghana Commercial Bank]] and (d) [[Fidelity Bank Ghana]].<ref name="3R"/><ref name="4R"/>
As of June 2022, four commercial banks had signed on to accept funds from DBG, for on-lending to eligible businesses, (a) [[CalBank]] (c) [[Consolidated Bank Ghana]] (c) [[GCB Bank|Ghana Commercial Bank]] and (d) [[Fidelity Bank Ghana]].<ref name="3R"/><ref name="4R"/>

It identifies with [[United Nations]]’ [[Sustainable Development Goals|SDG]]’s and works assiduously with the following SDG’s:

[[Sustainable Development Goal 5|SDG 5]] which is gender equality

[[Sustainable Development Goal 9|SDG 9]] which is industry, innovation and infrastructure

[[Sustainable Development Goal 13|SDG 13]] which is climate action<ref>{{cite web|url= https://mobile.ghanaweb.com/GhanaHomePage/business/Development-Bank-Ghana-initiates-programme-to-support-green-projects-1753853|title=Development Bank to support green projects|website=ghanaweb|access-date=2023-09-29}}</ref> and

[[Sustainable Development Goal 17|SDG 17]] which is partnerships for the goals in other to promote sustainable growth in Ghana.<ref name="dbg.com.gh"/>


==History==
==History==
The DBG was established to complement two other government-owned financial houses established before; namely the Agricultural Development Bank of Ghana and the National Investment Bank. However, there lacked long-term lending at reasonable rates to small businesses, "in the agriculture value chain, manufacturing and high-value services".<ref name="5R">{{cite web| url=https://ghanatoday.gov.gh/business/president-akufo-addo-inaugurates-development-bank-ghana/ |title=President Akufo-Addo inaugurates Development Bank Ghana |work=Ghanatoday.gov.gh |
The DBG was conceived in 2017 , established in 2020, awarded license to operate by [[Bank of Ghana]] in 2021 and launched in June 2022.<ref>{{Cite web |last=Komminoth |first=Leo |date=2022-06-15 |title=Ghana's long-awaited Development Bank finally launches |url=https://african.business/2022/06/finance-services/ghanas-long-awaited-development-bank-finally-launches |access-date=2023-08-24 |website=African Business |language=en-GB}}</ref><ref>{{Cite web |title=Corporate Governance – Development Bank Ghana (DBG) |url=https://www.dbg.com.gh/corporate-governance/ |access-date=2023-09-13 |language=en-US}}</ref> It was established to complement two other government-owned financial houses established before, namely the [[Agricultural Development Bank of Ghana|Agricultural Development Bank]] of Ghana and the [[National Investment Bank]]. However, they lacked long-term lending at reasonable rates to small businesses, "in the agriculture value chain, manufacturing, and high-value services".<ref name="5R">{{cite web| url=https://ghanatoday.gov.gh/business/president-akufo-addo-inaugurates-development-bank-ghana/ |title=President Akufo-Addo inaugurates Development Bank Ghana |work=Ghanatoday.gov.gh |
date=14 June 2022 |author=Ghana Today |access-date=17 June 2022 | location=Accra, Ghana}}</ref>
date=14 June 2022 |author=Ghana Today |access-date=17 June 2022 | location=Accra, Ghana}}</ref>

==Mandate==
The mandate of DBG is to provide long-term financing and de-risking services underpinned by technology and evidence-based research insights. However, the core mandate of DBG is to provide and alleviate financing constraints faced by micro, medium, and small enterprises(MMSE) and small corporates in business, manufacturing, and high-value services through the provision of wholesale financing and partial credit guarantees to eligible financing.


==Future plans==
==Future plans==
The bank plans to increase its coffers by injecting more capital from the government of Ghana and its development partners.<ref name="4R"/> It is the objective of DBG to increase the proportion of banking loans advanced to small businesses from 9 percent in 2022 to 15 percent in 2024.<ref name="5R"/>
The bank plans to increase its coffers by injecting more capital from the government of Ghana and its development partners.<ref name="4R"/> It is the objective of DBG to increase the proportion of banking loans advanced to small businesses from 9 percent in 2022 to 15 percent in 2024.<ref name="5R"/><ref>{{cite web|url= https://www.graphic.com.gh/business/business-news/development-bank-ghana-committed-to-smes-growth-k-duker.html|title=Development bank Ghana committed to the growth of SMEs|website=graphic.com|access-date=2023-09-29}}</ref>

== Functions ==
* The bank will ensure that it truly serves the industrial and export strategies of Ghana's economy.
* It will also encourage businesses to do more in terms of job creation and expansion.
* It will raise long-term funds from both the local and international capital markets and from international financial organizations based on the bank's own balance sheet.
* A wholesale bank to lend financial organizations for un-lending to businesses.<ref name=":0" />

=== Sectors ===

* Tourism
* Off-farm agribusiness farm value-chain activities
* Manufacturing
* ICT-software
* Housing<ref name=":0" />


==Board of directors==
==Board of directors==
As of December 2021, DBG's [[board of directors]] consisted of: 1. Dr. Yaw Ansu (Chairman) 2. Stephan Leudesdorff 3. Charles Boamah 4. Rosemary Yeboah 5. Mary Boakye 6. Yaw Nsarkoh and 7. Nora Bannerman-Abbott.<ref name="6R">{{cite web| date=1 February 2022 |url=https://panafricanvisions.com/2022/02/government-appoints-board-of-directors-ceo-for-development-bank-ghana-dbg-limited/ | work=PanAfricanvisons.com |title=Government Appoints Board Of Directors & Ceo For Development Bank Ghana (DBG) Limited | author=Mariam Naa Dedei Aryeetey |access-date=17 June 2022 | location=Accra, Ghana}}</ref>
As of December 2021, DBG's [[board of directors]] consisted of:
# Yaw Ansu (Chairman)
# Kwamina Duker - [[Chief Executive Officer]]
# Stephan Leudesdorff - Non Executive Director
# Charles Boamah - Non Executive Director
# Rosemary Yeboah - Non Executive Director
# Mary Boakye - Non Executive Director
# Yaw Nsarkoh and - Non Executive Director
# Nora Bannerman-Abbott.<ref name="6R">{{cite web| date=1 February 2022 |url=https://panafricanvisions.com/2022/02/government-appoints-board-of-directors-ceo-for-development-bank-ghana-dbg-limited/ | work=PanAfricanvisons.com |title=Government Appoints Board Of Directors & Ceo For Development Bank Ghana (DBG) Limited | author=Mariam Naa Dedei Aryeetey |access-date=17 June 2022 | location=Accra, Ghana}}</ref>


==Management==
==Management==
As of 31 January 2022, Kwamina Bentsi Enchill Duker is the [[chief executive officer]] of the Development Bank of Ghana. He also serves as a member of the bank's board of directors.<ref name="7R">{{cite web|url=https://citinewsroom.com/2022/01/govt-appoints-7-member-board-for-dbg-names-kwamina-bentsi-enchill-duker-as-ceo/ |title=Gov’t appoints 7-member Board for DBG; names Kwamina Bentsi Enchill Duker as CEO |work=CitiNewsroom.com | date=31 January 2022 |author=Nerteley Nettey |access-date=17 June 2022 |location=Accra, Ghana}}</ref>
As of 31 January 2022, Kwamina Bentsi Enchill Duker is the [[chief executive officer]] of the Development Bank Ghana. He also serves as a member of the bank's board of directors.<ref name="7R">{{cite web|url=https://citinewsroom.com/2022/01/govt-appoints-7-member-board-for-dbg-names-kwamina-bentsi-enchill-duker-as-ceo/ |title=Gov't appoints 7-member Board for DBG; names Kwamina Bentsi Enchill Duker as CEO |work=CitiNewsroom.com | date=31 January 2022 |author=Nerteley Nettey |access-date=17 June 2022 |location=Accra, Ghana}}</ref>

# Michael Mensah Baah - Deputy [[Chief Executive Officer]]
# El Farouk Omar - [[Chief Technology Officer]]
# Dr Kwabena Opuni-Frimpong - [[Chief Economist]]
# Dr Prince J. Adjei - [[Chief Risk Officer]]


==See also==
==See also==
Line 52: Line 93:
==External links==
==External links==
* [https://www.dbg.com.gh/ Development Bank of Ghana Official Website]
* [https://www.dbg.com.gh/ Development Bank of Ghana Official Website]
* [https://www.linkedin.com/company/development-bank-ghana/?originalSubdomain=gh DBG] on [[LinkedIn]]
* [https://twitter.com/devbankghana?lang=en DBG] on [[Twitter]]


{{Authority control}}
{{Authority control}}
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[[Category:Government-owned companies of Ghana]]
[[Category:Government-owned companies of Ghana]]
[[Category:Banks established in 2021]]
[[Category:Banks established in 2021]]
⚫
[[Category:Accra]]
[[Category:2021 establishments in Ghana]]
[[Category:2021 establishments in Ghana]]
[[Category:Government of Ghana]]
[[Category:Government of Ghana]]
⚫
[[Category:Organisations based in Accra]]

Latest revision as of 16:28, 4 September 2024

Development Bank Ghana
Company typeParastatal
IndustryFinance Banking
Founded2021; 3 years ago (2021)
HeadquartersAccra Financial Center
Liberia Road, Accra, Ghana
Key people
Yaw Ansu (Chairman)
Kwamina Duker (Chief Executive Officer)
ProductsLoans, equity partnerships, financial advisory services, management services, export/import finance
Total assetsUS$800 million (2022)
OwnerGovernment of Ghana
Number of employees
40 (2022)
WebsiteHomepage

The Development Bank Ghana (DBG) is a government-owned development bank in Ghana. Owned by the government of Ghana, the institution has received grants and loans for on-lending to Ghana's commercial banks, from the African Development Bank, the World Bank Group, the European Investment Bank, and the German Development Bank.[1] The DBG focuses on providing indirect loans to small and medium enterprises (SMEs), with less than 100 employees each.[2][3] A key area of interest in their immediate and long term plans is environment, social and governance focus to help build a sustainable economy in Ghana.[4] Fostering solid collaborations to support growth in the economy, generate jobs, and strengthen the capabilities of SMEs is the goal of DBG. DBG offer de-risking services and long-term funding, supported by technology and research and insights that are founded on solid facts. DBG additionally aims to draw in, nurture, and keep talented individuals. Run as a self-sufficient, eminently successful institution. Last but not least, DBG encourage ESG excellence within the companies we sponsor.[5]

Overview

[edit]

DBG was established in July 2021,[6] to provide loans to commercial banks and other financial institutions in Ghana, for on-lending to Ghanaian SMEs. The institution is owned by the Ghanaian government. Funding support has been received from international development institutions, as detailed in the previous section. As of June 2022, DBG's total assets were valued at almost $800 million. At that time, shareholders' equity was US$250 million).[7][8]

As of June 2022, four commercial banks had signed on to accept funds from DBG, for on-lending to eligible businesses, (a) CalBank (c) Consolidated Bank Ghana (c) Ghana Commercial Bank and (d) Fidelity Bank Ghana.[7][8]

It identifies with United Nations’ SDG’s and works assiduously with the following SDG’s:

SDG 5 which is gender equality

SDG 9 which is industry, innovation and infrastructure

SDG 13 which is climate action[9] and

SDG 17 which is partnerships for the goals in other to promote sustainable growth in Ghana.[4]

History

[edit]

The DBG was conceived in 2017 , established in 2020, awarded license to operate by Bank of Ghana in 2021 and launched in June 2022.[10][11] It was established to complement two other government-owned financial houses established before, namely the Agricultural Development Bank of Ghana and the National Investment Bank. However, they lacked long-term lending at reasonable rates to small businesses, "in the agriculture value chain, manufacturing, and high-value services".[12]

Mandate

[edit]

The mandate of DBG is to provide long-term financing and de-risking services underpinned by technology and evidence-based research insights. However, the core mandate of DBG is to provide and alleviate financing constraints faced by micro, medium, and small enterprises(MMSE) and small corporates in business, manufacturing, and high-value services through the provision of wholesale financing and partial credit guarantees to eligible financing.

Future plans

[edit]

The bank plans to increase its coffers by injecting more capital from the government of Ghana and its development partners.[8] It is the objective of DBG to increase the proportion of banking loans advanced to small businesses from 9 percent in 2022 to 15 percent in 2024.[12][13]

Functions

[edit]
  • The bank will ensure that it truly serves the industrial and export strategies of Ghana's economy.
  • It will also encourage businesses to do more in terms of job creation and expansion.
  • It will raise long-term funds from both the local and international capital markets and from international financial organizations based on the bank's own balance sheet.
  • A wholesale bank to lend financial organizations for un-lending to businesses.[6]

Sectors

[edit]
  • Tourism
  • Off-farm agribusiness farm value-chain activities
  • Manufacturing
  • ICT-software
  • Housing[6]

Board of directors

[edit]

As of December 2021, DBG's board of directors consisted of:

  1. Yaw Ansu (Chairman)
  2. Kwamina Duker - Chief Executive Officer
  3. Stephan Leudesdorff - Non Executive Director
  4. Charles Boamah - Non Executive Director
  5. Rosemary Yeboah - Non Executive Director
  6. Mary Boakye - Non Executive Director
  7. Yaw Nsarkoh and - Non Executive Director
  8. Nora Bannerman-Abbott.[14]

Management

[edit]

As of 31 January 2022, Kwamina Bentsi Enchill Duker is the chief executive officer of the Development Bank Ghana. He also serves as a member of the bank's board of directors.[15]

  1. Michael Mensah Baah - Deputy Chief Executive Officer
  2. El Farouk Omar - Chief Technology Officer
  3. Dr Kwabena Opuni-Frimpong - Chief Economist
  4. Dr Prince J. Adjei - Chief Risk Officer

See also

[edit]

References

[edit]
  1. ^ "Bright Simons: A new development bank in Ghana raises old issues". myjoyonline.com. 2 May 2023. Retrieved 29 September 2023.
  2. ^ Rachel Savage (14 June 2022). "Ghana development bank aims to lend $600 million to small firms over 1-2 years". Reuters.com. London, United Kingdom. Retrieved 17 June 2022.
  3. ^ KfW (15 December 2021). "A new engine for Ghana's economic transformation - the Development Bank Ghana". German Development Bank. Frankfurt, Germany. Retrieved 17 June 2022.
  4. ^ a b "Sustainability – Development Bank Ghana (DBG)". Retrieved 13 September 2023.
  5. ^ "Who We Are – Development Bank Ghana (DBG)". Retrieved 28 September 2023.
  6. ^ a b c Awal, Mohammed (21 July 2021). "Does Ghana need new Development Bank?". The Business & Financial Times. Retrieved 24 August 2023.
  7. ^ a b Theresa Smith (16 June 2022). "Catalysing SME growth in Ghana through a Development Bank". ESI-Africa.com. Cape Town, South Africa. Retrieved 17 June 2022.
  8. ^ a b c Ghana Today (14 June 2022). "Development Bank Ghana secures $800 million from shareholders …ready to kick-start operations". Ghanatoday.gov.gh. Accra, Ghana. Retrieved 17 June 2022.
  9. ^ "Development Bank to support green projects". ghanaweb. Retrieved 29 September 2023.
  10. ^ Komminoth, Leo (15 June 2022). "Ghana's long-awaited Development Bank finally launches". African Business. Retrieved 24 August 2023.
  11. ^ "Corporate Governance – Development Bank Ghana (DBG)". Retrieved 13 September 2023.
  12. ^ a b Ghana Today (14 June 2022). "President Akufo-Addo inaugurates Development Bank Ghana". Ghanatoday.gov.gh. Accra, Ghana. Retrieved 17 June 2022.
  13. ^ "Development bank Ghana committed to the growth of SMEs". graphic.com. Retrieved 29 September 2023.
  14. ^ Mariam Naa Dedei Aryeetey (1 February 2022). "Government Appoints Board Of Directors & Ceo For Development Bank Ghana (DBG) Limited". PanAfricanvisons.com. Accra, Ghana. Retrieved 17 June 2022.
  15. ^ Nerteley Nettey (31 January 2022). "Gov't appoints 7-member Board for DBG; names Kwamina Bentsi Enchill Duker as CEO". CitiNewsroom.com. Accra, Ghana. Retrieved 17 June 2022.
[edit]


05°33′19″N 00°12′06″W / 5.55528°N 0.20167°W / 5.55528; -0.20167

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