Observers see positive signs. The bank’s board was constituted in 2021 through a process coordinated by PwC (Ghana), and the two top executives have impressive professional records. Yaw Ansu – who worked at the World Bank for 26 years and was country director for Zambia, Zimbabwe and Nigeria – is chairman of the board. Kwamina Bentsi Enchill Duker, a former director of Fidelity Bank Asia. is DBG’s chief executive officer.
Ghana’s development bank gets off to a good start
The Development Bank Ghana (DBG) is a work in progress. The rationale is clear: helping fix the financing crunch for domestic companies unable to afford the high interest rates of the commercial banking space, which hover at around 22%. Cronyism and corruption have dogged many previous attempts to provide soft loans to industrial players in the country. Can Ghana make it work this time?