The Development Bank Ghana (DBG) has announced plans to support the transformation of Ghana’s oil palm sector, with the goal of turning smallholder farmers into major players in processing and value addition.
The initiative forms part of the bank’s broader strategy to make the oil palm industry a significant contributor to industrial growth, job creation and export earnings, while increasing the production and consumption of locally grown and processed palm oil.
Speaking at a media engagement in Accra to mark DBG’s fifth anniversary, the Chief Executive Officer, Professor Randolph Nsor-Ambala, said the bank remains committed to promoting sustainable and inclusive economic growth through strategic investments and partnerships.
“At DBG, we are focused on enabling businesses to grow, scale up and contribute meaningfully to Ghana’s economic transformation. Our journey over the past five years reflects a strong commitment to impact and partnership,” he stated.
Professor Nsor-Ambala explained that DBG continues to work closely with financial institutions and development partners to improve access to credit, particularly for businesses that have traditionally struggled to secure long-term financing.
Looking ahead, he said the bank would deepen its reach across the country, strengthen existing partnerships and increase investments in key sectors of the economy.
“We will double down on women. More than half of everything we have financed has reached businesses led by women, and we are nowhere near done. The years ahead will bring financing deliberately designed around women entrepreneurs,” he said.
He added that DBG would also expand its footprint beyond Accra to ensure businesses in all parts of the country benefit from development financing.
“Development that stops at the edge of Accra is development postponed, and we intend to see our financing at work in all 16 regions of Ghana,” he noted.
Professor Nsor-Ambala further disclosed that the bank would continue collaborating with development partners to support Ghana’s green transition by financing clean energy projects and climate-smart industries.
Established in November 2021, DBG was created to address long-standing financing gaps within the economy by providing long-term funding to participating financial institutions (PFIs), which then lend to businesses operating in priority sectors.
Over the years, the bank has supported enterprises in agriculture, manufacturing and services, helping to create jobs, improve productivity and strengthen economic resilience.
According to Professor Nsor-Ambala, DBG has so far invested GH¢2.5 billion in 997 enterprises through 21 participating financial institutions across the country.
Drawing lessons from successful development banks around the world, he cited Germany’s KfW, which was established in 1948 to support post-war reconstruction and has since grown into one of the largest development banks globally.
He also referenced the Development Bank of Singapore (DBS), established in 1968 to drive industrialisation and now recognised as Southeast Asia’s largest bank.
“We intend to walk the same road. Our ambition is to complete each assignment and take on more challenging responsibilities until Ghana has a banking system that finances development as a matter of course in every region and for every serious enterprise,” he said.
