Development Bank Ghana disburses GH¢700m to support SMEs

The Development Bank Ghana (DBG) since its inception two years ago has disbursed about GH¢700 million to Small and Medium-sized Enterprises (SMEs) to support their operations and boost their capital.

Kwamina Duker, the Chief Executive Officer of DBG, in an interview with the Ghanaian Times on Tuesday during the Ghana Mutual Prosperity Partnership (GMMP) roundtable with German Businesses, said 40 per cent of the amount was disbursed to women-owned businesses.

The GMMP, which was started last year by the Ministry of Finance, is meant to build closer collaboration with the private sector andto learn their challenges for redress.

Mr Duker said DBG’s support to local businesses had helped to create about 6000 jobs, and that had gone a long way to help address the growing unemployment situation in the country.

He said the bank had also helped the country to save about $40 million foreign exchange through its support to local businesses.

Mr Duker said the “GMMP aligned with the mandate of the DBG because it ensured the guard rails and guidelines have been put in place to ensure we are always doing the right thing.”

He said the objectiveof DBG was to support and help businesses that were sustainable.

Mr Duker said in view of that objective, DBG financed and supported deals that were bankable and had measurable output.

He said building mutual prosperity between the government and private sector was very important.

“Mutual prosperity at the end of the day can only happen if we break the cycle of dependency and build businesses which can stand on their own,” Mr Duker stated.

Mr Duker lauded the government for introducing the GMMP to create a platform to dialogue with the private sector

BY KINGSLEY ASARE