IIGh to hold forum on Financing for Dev’t amid Ghana’s continued borrowing

IIGh to hold forum on Financing for Dev’t amid Ghana’s continued borrowing

Impact Investing Ghana will on Thursday, June 17, 2021, hold the first-ever public Dialogue Series on Financing for Development.

IIGh to hold forum on Financing for Dev’t amid Ghana’s continued borrowing
IIGh to hold forum on Financing for Dev’t amid Ghana’s continued borrowing
Source: UGC

The forum, dubbed “What is the Role of the Development Bank in Ghana’s Economic Transformation?” will also seek to address some niggling questions on the minds of Ghanaians such as; “Will the development bank actually enable Ghanaians to access financing to grow their businesses? Will the capital be patient and at affordable terms? How do they position themselves to benefit from these activities and how can citizens hold the government accountable to deliver the promised results?”.

It is these questions that this first Financing for Development Forum will seek to address.

The dialogue will feature a presentation by a leading expert in the field of development financing, an expert from the Ministry of Finance, a young entrepreneur and members of the financial services sector in Ghana.

Some speakers at the event include; Alex Asiedu, Impact Investment Ghana (IIG), Sampson Akligoh, Director Financial Sector Division, Ministry of Finance and Nora Bannerman-Abbot, – Sleek Garments Export Ltd & ASICT.

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The rest are Dr. Richmond Atuahene, Banking Consultant and Jerry Parkes, Ghana Venture Capital Association.

The event will be held from 10 am to 11.30 am via zoom.

The goal of the forum will is to;

1. Explain in very simple terms what a national development bank is, its successes and failures and what would be needed for a development bank to succeed in Ghana.

2. Explain in very simple terms the current set-up of the development bank that is to launch soon in Ghana and how it has been structured to avoid the failures of the past and position it for success.

3. Outline the needs of MSMEs and how the development bank will lead to financial products that meet their needs.

4. Understand how MSMEs can position themselves to access this support.

You can join the forum by clicking the link below:

The new National Development Bank or the Development Bank Ghana (DBG) is a wholesale and non-deposit taking bank that will increase access to long-term finance and boost job creation for thousands of businesses in key sectors, including agribusiness, manufacturing, ICT tourism and other services across Ghana.

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The Development Bank is also expected to transform long-term business financing in local currency.

About Impact Investing Ghana (IIGh)

Impact Investing Ghana (IIGh) is a private-sector-led initiative promoting sustainable development and advancing the development of the impact investment ecosystem in Ghana.

In other news, Ghana’s inflation has returned to its pre-pandemic status, data from the Ghana Statistical Service showed.

Per the data which was released on Wednesday, June 9, 2021, the country’s average inflation went up by 7.5%.

Comparing it to the 8.5% and 9.9% recorded in April and January respectively, this means that the May rate is the lowest since March 2020 which was 7.8%.

This is coming on the back of the cutting down of the policy rate by the Monetary Policy Committee (MPC) of the Bank of Ghana.

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Source: Yen

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