CEO of Devel­opment Bank Ghana

Development Bank Ghana (DBG) has revealed its plans to engage with policymakers, regulators and industry stakeholders to address challenges posed by the current macroeconomic environment and the Domestic Debt Exchange Programme (DDEP). The challenging operating environment in 2022 has reflected in the banking sector, driven by macroeconomic conditions and implementation of the Domestic Debt Exchange Programme which saw significant losses on account of impairing banks’ holdings in GoG bonds. As a result, profitability levels in the banking sector have declined – with mark-to-market losses on investments, higher impairments on loans, and rising operating costs. The Chief Executive Officer (CEO) of…

The Development Bank Ghana (DBG) has received a seed fund of US$70million for its partial credit guarantee scheme, which will provide an additional layer of support for participating financial institutions (PFIs) to better manage risks associated with loan defaults. The World Bank Group contributed US$50million of the amount, with the remaining US$20million coming from the Kreditanstalt für Wiederaufbau (KfW) Development Bank of Germany. This scheme is expected to boost investments in high-risk sectors of the economy as the PFIs continue to serve the SME sector effectively while sharing the risk of the investment with DBG, and is in line with…