Over the last couple of months, several conversations have been held on different media platforms over the establishment of the new Development Bank Ghana.
Several forums have been held to enable the business community and Ghanaians understand the need to establish a new development bank in the country.
The Finance Ministry has on several platforms explained that DBG will be a wholesale development bank, established as a company, licensed by the Bank of Ghana under the new Development Finance Act.
To this end, Toastmasters Ghana will on Thursday, August 26, hold a conversation to answer some niggling questions bordering on the establishment of the bank and to enable Ghanaians understand how the DBG can benefit them.
Speakers for the conversation are; Sampson Akligoh, Director Financial Sector Division, Ministry of Finance, Papa Arkhurst, DTM immediate Past Division Director, Dr Suzy Aku Puplampu, Division G Director District 94 and A.S Dzah, Division M Director District 94.
Evans Adu Gyamfi will be the Toastmaster of the Day and the moderator of the conversation.
The Development Bank of Ghana (DBG) is the centrepiece of a wider financial development project which aims to increase access to long-term finance and boost job creation for 10,000 enterprises, including 2,000 women-led MSMEs in key sectors including agribusinesses and manufacturing.
The wider Development Finance project will also strengthen the oversight of development finance institutions and the adoption of Environmental and Social standards by financial institutions.
The DBG will be a wholesale development bank, established as a company, licensed by the Bank of Ghana under the new Development Finance Act under preparation, and will have sound corporate governance including an independent board and professional management, expected to operate without undue political interference from the government itself.
The bank will offer credit and below market average interest rates and credit guarantees. It will mainly serve medium and small-sized enterprises, which find it difficult to secure credit at rates that allow for economically viable financing of their commercial activities.
To this end, the bank will refinance credit to industry and agriculture as a wholesale bank and also provide guarantee instruments to encourage universal banks to lend to these specific sectors in particular.
DBG will finance multiple interventions to attract private sector financing for credit-constrained MSMEs and small companies based in Ghana.
DBG in its operations is expected to over the medium-term, focus on and transform industry, agriculture, agro-processing, and housing and mortgage sub-sectors of the economy.
When operational, DBG will deploy products and instruments such as credit guarantee funds, refinancing of Participating Financial Institutions (PFIs) loans, term loans, business development services, and factoring, among others.
You can join the Toastmasters Edition of the #DevelopmentFinanceSeries Thursday, 26th
August as they discuss the Development Bank.
Kindly use the credentials below to join via Zoom:
Meeting ID: 976 2448 5155 Password: 372705 https://bit.ly/37SKtvb
