DBG launches women’s lending programme to boost female-led businesses

Development Bank Ghana (DBG) has launched a dedicated women’s lending programme aimed at expanding access to finance for women-led businesses, describing female entrepreneurs as one of the country’s most underserved but economically impactful groups.

The initiative, which will be implemented through the bank’s partner financial institutions, was unveiled during a customer appreciation and business dialogue held as part of activities marking DBG’s fifth anniversary.

Speaking at the event, Chief Executive Officer of DBG, Professor Randolph Nsor-Ambala, said improving access to finance for women and young entrepreneurs should be viewed as an economic growth strategy rather than a social intervention.

He noted that women continue to face significant barriers in accessing finance despite their contribution to Ghana’s economic development.

“Women face peculiar challenges in accessing financial assistance. They do not want to chase loans due to collateralisation requirements, formalisation challenges and even limited technical assistance. All those binding constraints must be dealt with. From an economic empowerment perspective, a country benefits more if the vulnerable are supported: the youth and women,” he said.

Professor Nsor-Ambala explained that removing these structural barriers would enable more women-owned businesses to expand, improve productivity and contribute more significantly to national economic growth.

He said DBG’s mandate is focused on strengthening Ghana’s private sector by supporting start-ups and small and medium-sized enterprises (SMEs), which he described as the foundation of sustainable economic transformation.

“We have been able to create and sustain 41,000 jobs. Our target is businesses that are start-ups and those in the middle of their growth journey. A dream supported today is an industry in the future. The constant sector is the private sector,” he stated.

According to him, long-term national development depends on building resilient businesses capable of driving growth beyond changing political administrations.

“The vision of DBG is underpinned by the belief that if businesses are given the support to grow, we will be able to sustain the development agenda beyond political philosophies. The focus is to allow the private sector to dictate how development must happen. For this model to work, businesses must commit to their aspirations,” he added.

Since commencing operations, DBG has disbursed more than GH¢2.5 billion through participating financial institutions, supporting about 1,000 businesses across Ghana.

Deputy Chief Executive Officer of DBG, Michael Mensah-Baah, said the new programme seeks to close financing gaps that continue to limit the growth of women-owned enterprises.

“This initiative is structured and tilted toward women-led businesses. It’s not simply to close a gap. The most beautiful part is that over half of the enterprises we have supported are businesses led by women. Lending to women is not charity. The returns benefit households, and women contribute immensely to household wealth,” he said.

He noted that increasing access to credit for women entrepreneurs would lead to stronger business performance, higher employment, improved household incomes and broader economic development.

Some entrepreneurs who have benefited from financing through DBG’s partner financial institutions shared testimonies during the event, saying the support had enabled them to expand production, grow their businesses and create employment opportunities.

The customer appreciation and business dialogue formed part of activities commemorating Development Bank Ghana’s fifth anniversary, with the bank reaffirming its commitment to mobilising long-term capital to strengthen Ghana’s private sector and promote inclusive economic growth.