Development Bank Ghana Participates in African DFIs Forum
Development Bank Ghana (DBG) has participated in the Global 2022 CEO Forum of African Development Finance Institutions organised by the Association of African Development Finance Institutions (AADFI) in collaboration with the Citizen Entrepreneurial Development Agency (CEDA).
The event was held in Gaborone, Botswana under the theme “Building partnerships for resource mobilization in financing Sustainable Development Goals (SDGs)”.
The CEO Forum, held between November 23 and 25, 2022, is an annual event on the calendar of the AADFI, that provides a platform for Chief Executive Officers and C-suite executives of African Development Finance Institutions (DFIs) to gather with key stakeholders and partners to discuss issues that impinge on African DFIs’ operations and to generate innovative ideas on the way forward.
The discussions focused on building a better partnership between the national DFIs and development partners, and how these institutions can be repositioned in the resource
mobilization equation to ensure impact.
This year, the conference focused on improving the operating conditions of African DFIs for the recovery of members’ economies from the
pandemic, and other global challenges.
It also focused on speeding up the process of attaining the SDGs and Paris Agreement on the African continent. However, the lack of adequate resources as agreed by all stakeholders remains a major constraint.
Development Bank Ghana (DBG) was represented by Deputy Chief Executive Officer, Mr. Michael Mensah-Baah.
He also took part in the panel discussion on the theme: “African DFIs Capabilities and the Quest for Relevance in Achieving the 2030 SDGs Agenda on the Continent”.
The discussion focused on the importance of national DFIs and their place in grassroots development. It also focused on whether there could there be a better partnership between national DFIs, MDBs, and Regional DFIs.
Mr. Mensah-Baah re-emphasized DBG’s commitment to support Ghana in achieving the SDGs by 2030.
He explained that National DFIs have a critical role to play in achieving the specific goals under the SDGs however, the first step in achieving this is to cultivate a strong governance culture. He also reiterated the need for de-risking and collaborating with government agencies on developmental policies, providing technical assistance, driving product innovation including Partial Credit Guarantees and Equity funding by DFIs.
In addition, Mr. Mensah-Baah stated that, “digitization is vital to achieving development and a successful implementation of the SDG goals at the scale and urgency it requires. DBG has therefore partnered with the Monetary Authority of Singapore and the Bank of Ghana to develop a digital financial ecosystem aimed at providing a common platform for promoting financial literacy, lending with common underwriting standards, creating a marketplace between Ghanaian SMEs and those in the Ghana Asian corridor and de-risking.”
The 2022 AADFI CEO Forum provided a platform for knowledge sharing and collaborations between the various countries on building partnerships towards resource mobilization for the SDG goals. This was a good platform for DBG to share its views with other African DFIs for future collaboration.
DBG is a Development Finance Institution, established by the Government of Ghana, in accordance with the Development Finance Act, 2020.
DBG acts as an enabler for businesses in Ghana and as a long-term capital provider in the market. DBG’s mission is to foster strong partnerships to finance economic growth, create
jobs and build capacity for SMEs and to provide long-term financing and de-risking services, underpinned by technology and evidence-based research/insights.
It also includes attracting, developing and retaining exceptional people and operating as an independent, financially sustainable world-class institution.
DBG aims to promote Environment Social and Governance (ESG) excellence within the businesses the Bank supports.
The Bank has received funds from the World Bank, European Investment Bank, Kreditanstalt Für Wiederaufbau (KfW) and the African Development Bank. DBG is a signatory to the UN Global Compact.