How DBG's GH₵1 Billion Fund Will Boost Women Entrepreneurship In Ghana

Women entrepreneurs in Ghana face many challenges in accessing finance for their businesses. Despite owning half of the businesses in the country, only one in ten women entrepreneurs can get funding from financial institutions. This limits their potential to grow and create more jobs and wealth for themselves and their communities.

The Development Bank Ghana (DBG) is determined to change this situation. DBG is a wholesale lending institution that provides long-term capital to support small and medium enterprises (SMEs) in key sectors of the economy. DBG has a special focus on women-led businesses, which it considers as a strategic priority for inclusive and sustainable development.

DBG's Deputy Chief Executive, Michael Mensah-Baah, announced that DBG has a plan to make 500 women-led businesses benefit from the GH₵1 billion fund that it will deploy to support SMEs in the next three to five years. He made this announcement at the Investment Climate Reform (ICR) Facility – Development Bank Ghana Stakeholder Workshop, which was held to identify and address the barriers that prevent women entrepreneurs from accessing finance.

Mensah-Baah said that DBG has partnered with relevant stakeholders and like-minded financial institutions that share its vision and mission of supporting women entrepreneurship in Ghana. He said that DBG will not only provide financial support, but will also offer capacity-building and technical assistance to empower women-led businesses. He said that DBG's goal is to help women entrepreneurs overcome the challenges they face, such as lack of collateral, business skills, market access, and mentorship.

The workshop was attended by representatives from various sectors, such as government, private sector, civil society, academia, and media. The participants discussed the issues and solutions related to women entrepreneurship in Ghana, and how DBG can play a key role in facilitating their growth and transformation. The workshop also showcased some of the success stories of women entrepreneurs who have benefited from DBG's funding and support.

DBG's GH₵1 billion fund is expected to have a significant impact on the lives and livelihoods of women entrepreneurs in Ghana. It will enable them to scale up their businesses, create more jobs, increase their income, and contribute to the economic and social development of the country. DBG's fund is also expected to inspire more women to pursue their entrepreneurial dreams and aspirations, and to become role models for the next generation of women entrepreneurs in Ghana.