…partners with Amenfiman Rural Bank to disburse GH¢72m over the next three years
In a bid to empower youth entrepreneurs in Ghana, Development Bank Ghana (DBG) has partnered with Amenfiman Rural Bank Plc as the first rural bank in its network of Participating Financial Institutions (PFIs).
This partnership underscores DBG’s commitment to bridging the financing gap for youth entrepreneurs in underserved communities, driving inclusive growth, and promoting sustainable development in Ghana.
As Ghana’s wholesale financial institution dedicated to economic development, DBG collaborates with financial institutions across the country to deliver much-needed financing and capacity-building support to micro, small, and medium enterprises (MSMEs).
By welcoming Amenfiman Rural Bank into its PFI network, DBG aims to expand its footprint in rural communities across four regions—Western, Western North, Central, and Ashanti Regions—ensuring that youth entrepreneurs in these areas have access to the financing required for sustainable growth.
This partnership is projected to disburse GH¢72 million over the next three years through Amenfiman Rural Bank, with GH¢ 18 million already successfully disbursed.
Beyond funding, DBG will provide technical assistance to Amenfiman’s management and staff, especially in Environmental, Social, and Governance (ESG) practices, bolstering their capacity to address the diverse needs of youth entrepreneurs in sectors such as agriculture, manufacturing, ICT, education, health, and tourism.
Since its founding in 1980, Amenfiman Rural Bank has played a pivotal role in Ghana’s economic development, serving MSMEs, government employees, and private-sector workers through a network of 18 branches, 7 mobilization centres, and 3 microfinance offices.
Recognised for its consistent leadership in rural banking, Amenfiman was recently awarded the Overall Best Rural Bank in Ghana for the 2022/2023 financial years at the 5th Rural and Community Banks Excellence Awards Ceremony.
With DBG’s support, Amenfiman will now have access to medium-to-long-term financing options, enabling it to better serve the growth and expansion needs of its clients.
“DBG’s partnership with Amenfiman Rural Bank represents a pivotal moment in our mission to increase financial accessibility for underserved markets,” said Kwamina Duker, CEO of Development Bank Ghana.
“Our goal is to provide MSMEs in rural areas with the resources they need to scale, create jobs, and uplift their communities. Amenfiman’s extensive presence in four regions makes it an ideal partner as we work to expand our reach and impact.”
Michael Mensah Baah, Deputy CEO of Development Bank Ghana, added, “At DBG, our commitment is to unlock the potential of Ghana’s youth entrepreneurs in remote parts of the country by delivering financial solutions tailored to their distinct needs.
“Partnering with Amenfiman Rural Bank goes beyond expanding our reach—it’s about building real, lasting economic transformation by providing long-term funding with hands-on support for youth entrepreneurs to build resilience in their businesses.”
Dr. Alexander Asmah, CEO of Amenfiman Rural Bank, expressed his enthusiasm for the partnership, stating, “Our collaboration with DBG marks a new chapter for Amenfiman. This access to long-term funding will enable us to serve our clients’ larger projects more effectively, addressing an area where traditional short-term funds often fall short.”
“ We are committed to using this partnership to deepen our impact and lead by example within Ghana’s rural banking sector,” he added.
The collaboration with Amenfiman aligns with DBG’s core focus on empowering local businesses, facilitating job creation, and promoting economic resilience.
Through this partnership, DBG is extending the reach of the Government of Ghana’s “SME GO” programme to rural Ghana, enabling Amenfiman to scale its support for MSMEs and small corporate clients while actively contributing to the nation’s economic growth.
