Development Bank Ghana (DBG) and the University of Ghana Business School (UGBS) have signed a Memorandum of Understanding (MOU) to deepen development finance knowledge, innovations and its impact.
The collaboration aims to build capacity for small and medium-sized enterprises (SMEs), support youth-led businesses and enhance the understanding of development finance.
As a wholesale financing model, DBG acts as an enabler for Ghanaian businesses – providing long-term financing and de-risking services. By partnering with UGBS, DBG hopes to attract, develop and retain exceptional talent and operate as an independent, financially sustainable world-class institution.
The deputy Chief Executive Officer (CEO) of Development Bank Ghana, Michael Mensah-Baah, at the signing ceremony said DBG is committed to making developmental interventions which are backed by research; and in this regard, DBG seeks to collaborate with the University of Ghana Business School (UGBS) in research areas which provide evidence-based challenges to policymakers and other key stakeholders.
“A key enabler for scaling up DBG’s impact is the use of digitisation. In this regard, DBG will be using our recently-launched digital platform – called the Ghana Integrated Financial Ecosystem (GIFE) – to deliver our financial literacy capacity building to the students. This platform is being developed through a collaboration between the Monetary Authority of Singapore, Bank of Ghana and DBG. The platform when completed will enable the end-to-end capability required by our local businesses,” Mr. Mensah-Baah said.
“Finally, DBG is keen to do its bit to support the less fortunate; and in this regard DBG in collaboration with UG will be introducing scholarships for less fortunate young men and women who want to take an MSc in Development Financing but cannot afford to. These people are the future of development financing in Ghana,” he added.
The MoU outlines four key areas of collaboration: supporting youth-led businesses, showcasing the leadership expertise of DBG, corporate social responsibility and policy research and reforms. As part of the collaboration, DBG will support the awarding of degrees in development finance to graduate students, offer internships to MSC Development Finance students and provide scholarships for underprivileged candidates interested in development finance.
The thought-leadership programme seeks to enhance the understanding of development finance and the role it plays in delivering developmental impact. The programme will incorporate best practice and initiate new thinking in the field. The collaboration will also afford DBG the opportunity to have its leadership as guest lecturers in UGBS sharing practical and real-life experiences.
The roundtable meeting, themed ‘Deepening development finance knowledge, innovations and impact’, featured Mr. Mensah-Baah, deputy CEO-DBG; Mr. Daniel Addo, CEO-CBG; and Prof. Vera Ogeh Fiador, Associate Professor of Finance at UGBS. The programme will be chaired by Prof. Nana Aba Appiah Amfo, Vice-Chancellor of the University of Ghana.
DBG’s mission is to foster strong partnerships to finance economic growth, create jobs and build capacity for SMEs. The bank aims to provide long-term financing and de-risking services underpinned by technology and evidence-based research/insights. Additionally, DBG aims to promote environmental, social and governance (ESG) excellence within the businesses it supports.
Through this collaboration, both DBG and UGBS hope to deepen knowledge and impact in the field of development finance. The partnership promises to support young entrepreneurs, inspire thought-leadership and provide opportunities for students interested in development finance. With the MoU signing, DBG and UGBS are excited to embark on this journey and build a brighter future for Ghana.