DBG will not shift its focus from its core mandate – CEO assures
Management of the Development Bank Ghana has re-assured that several stringent measures have been put in place to ensure the success and independence of the yet-to-be-launched Development Bank Ghana (DBG).
Government established the DBG as a development finance institution (DFI) with the mandate to support economic transformation in Ghana.
The bank is expected to ease the constraints of long-term financing at competitive rates for entrepreneurs to propel economic growth, create jobs, and expand the domestic revenue base.
Addressing the press during a media engagement ahead of the launch of the bank, Chief Executive Officer of the Development Bank Ghana, Kwamina Bentsi Enchill Duker said the bank is intended to do things differently by operating as a united front with partners, banks and businesses to ensure that it does not shift its focus from its core mandate.
“To do it different means we will operate as a united front with our partners, our banking friends and the SMEs we are all working to support. We must be different in the way we help solve some of the problems facing SMEs. DBG is designed to help relieve critical bottlenecks that have hindered the availability of long-term, competitively priced loans to small and medium-scale enterprises in industry sectors that have the potential to transform the economy,” he said.
He also noted that SMEs are a major contributor to the country’s workforce and the Gross Domestic Product (GDP), yet the current banking structure makes it nearly impossible for SME operators to acquire loans to support their various businesses.
Source: Ghana Business
