DBG to invest GH₵700m in women-led businesses over 5 years
The Development Bank Ghana (DBG) has announced its intention to invest GH₵700 million in women-led businesses over the next three to five years, signaling a significant commitment to bolstering growth in this sector.
This commitment represents about 10 percent of DBG’s funding and underscores a strong support for women-owned enterprises.
Speaking at a stakeholders workshop on Barriers and Opportunities to Women’s Access to Finances in Ghana, Michael Mensah-Baah, Deputy CEO of DBG, emphasized the bank’s vision to accelerate inclusive and sustainable economic transformation by fostering the growth of a competitive private sector.
As part of its commitment to gender inclusivity, DBG aims to ensure that 20 percent of all businesses receiving funding from the bank are owned by women.
This initiative seeks to address the critical issue of gender mainstreaming in the financial sector, as highlighted during the workshop.
Despite women owning 46.4% of businesses in Ghana, access to finance has remained a significant challenge for women-owned enterprises.
Mr. Mensah-Baah stressed the importance of inclusivity in ensuring that all sections of society benefit and thrive economically.
To address existing gender disparities and barriers within institutions and the broader financial landscape, DBG has initiated the Gender Mainstreaming Accelerator Programme (GMAP) under the Investment Climate Reform (ICR) facility.
This collaborative effort involves capacity-building programs for DBG and targeted Participating Financial Institutions (PFIs).
Mr. Mensah-Baah expressed appreciation for the support received from the ICR Facility and other sponsors in advancing gender-lens investing activities within DBG.
He commended stakeholders for their commitment to fostering inclusive economic growth, highlighting DBG’s privilege in partnering with them on this journey.
DBG’s involvement in initiatives such as the 2X Challenge and endorsement of the Women’s Empowerment Principles further underscore its dedication to promoting gender equality and women’s empowerment.
Through these efforts, DBG aims to create a more inclusive workplace, marketplace, and community where women have equal opportunities to thrive and succeed.
The announcement of DBG’s substantial investment in women-led businesses reflects a significant step towards fostering economic growth and empowerment in Ghana.
