DBG partners with UGBS to advance development finance

March 29, 2023

The Development Bank Ghana (DBG) has joined forces with the Business School (UGBS) to deepen the understanding of development finance and its impact on development.

Under the Memorandum of Understanding (MoU) signed, 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 who are interested in development finance.

Additionally, DBG will stimulate and share research, incorporate best practices, and initiate new thinking in the field.

Speaking at a roundtable discussion after the signing ceremony, the Deputy Chief Executive Officer of DBG, Mr Michael Mensah Baah, said the bank was committed to making developmental interventions backed by research, hence the partnership with the UGBS.

He expressed optimism that the partnership would enhance their ability to make a positive economic impact in Ghana.

He also revealed that the partnership would offer the bank the opportunity to support young entrepreneurs through the recently launched Ghana Integrated Financial Ecosystem (GIFE) to deliver financial literacy capacity building to the students.

Mr Baah stated, “Estimates from the (GSS) suggest that about 1.55 million adults, 15 years and above were unemployed in 2021. 74 per cent of them are defined as ‘young'.

Some future youth entrepreneurs are here today.” He noted that the partnership would create an opportunity to support these young entrepreneurs and others who are interested in development finance.

The Vice-Chancellor of the University of Ghana, Nana Aba Appiah Amfo, said she was hopeful that a research collaboration between the bank and a highly-ranked academic institution like UGBS would be of immense benefit to the nation.

She emphasized that while the domestic public finance and international development corporation remained central to achieving the (SDG) by 2030, it was important for development finance institutions to play a critical role in providing funding for sustainable development during global economic downturns.

She added, “But the question is, can they deliver? This is where a strategic partnership with renowned academic institutions like UGBS becomes imperative.”

Nana Aba Appiah Amfo assured that the UGBS was well-positioned to provide the needed support for the realization of DBG's vision of accelerating inclusive and sustainable economic transformation.

Under the agreement, the UGBS is expected to offer DBG the opportunity to have its leadership as guest lecturers in the business school to share practical real-life experiences and improve capacity-building efforts for students.

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