7 months ago
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Development Bank Ghana (DBG) has hosted a delegation from Germany’s Bundestag (Federal Parliament).
A statement issued by the bank in Accra yesterday said discussions during the meeting spanned DBG’s forward-looking initiatives, including the Green Finance & Investment Facility and the DBG Guarantee product, highlighting DBG’s commitment to fostering economic resilience and sustainability.
The Green Credit Line (financed by the German Federal Ministry for Economic Cooperation and Development (BMZ), implemented by KfW) is envisaged to start implementation in the second quarter of 2024 in Ghana and is expected to complement DBG’s efforts in green financing.
The German delegation was led by Mr Volkmar Klein, MP, representing the State of North Rhine-Westphalia, and Mr Lutz Lienenkämper, the State’s former Finance Minister.
They were joined by Mrs Ramona Simon, Deputy Head of Cooperation at the German Embassy in Ghana, alongside KfW Development Bank’s officials, namely Ms Sarah Christin Petrenz, Senior Portfolio Manager, and Mr Isaac Hagan, Portfolio Coordinator – Financial Sector, representing the German state-owned development bank’s Accra office.
The statement said a focal point of the visit was the introduction of the upcoming 3i Africa Summit slated for May 13-15, 2024, in Accra.
It said, “This summit promises to be a ground-breaking event, focusing on technology opportunities within Africa’s financial sector.”
“It aims to explore market dynamics, the leapfrogging of legacy technologies, and the crucial dialogues needed at the intersection of policy, finance, and technology. With a core emphasis on inclusion and sustainability, the 3i Africa Summit aspires to drive meaningful discourse and actionable insights for the continent’s financial ecosystem,” the statement said.
The DBG team, led by Deputy Chief Executive Officer, Michael Mensah-Baah, officials such as Chief Risk Officer, Dr Prince Adjei, and heads of the various strategic departments, shared insights into DBG’s operational strategies and its vision for a transformative impact in collaboration with its
partners.
Reflecting on the discussions, Mr Mensah-Baah said, “The German Government, through KfW, has been very supportive of DBG and its efforts to foster economic growth by empowering local businesses.”
“We have had fruitful discussions on our operations, our agenda for 2024 and how we are positioned for greater impact through our lending activities and technical assistance to local businesses in collaboration with our partner banks and agencies respectively. We look forward to our on-going collaboration and believe that together with our German partners, we will be able to deliver significant transformation. We are primed for this,” he said.
Mr Volkmar Klein, MP from the German State of North Rhine-Westphalia, on the other hand, commended DBG on the work it was doing and how far DBG had come.
BY KINGSLEY ASARE
