DBG, ARB forge partnership to Empower Youth Entrepreneurs

The Development Bank Ghana (DBG) has partnered with the Amenfiman Rural Bank to bolster youth entrepreneurship in Ghana’s underserved regions. 

The collaboration, launched last Monday, aimed to bridge financing gaps and promote sustainable development.

By the partnership, DBG committed to disburse GH¢72 million over three years, with GH¢18 million already channelled through Amenfiman Rural Bank.  

The initiative aligned with Ghana’s SME GO programme, extending its benefits to rural entrepreneurs. 

Support  

This partnership extended medium-to-long-term financing to empower youth entrepreneurs across key sectors such as agriculture, manufacturing, ICT, education, health, and tourism.

It also seeks to support larger projects that had previously been hindered by short-term financial constraints.

In an interview with the Daily Graphic, the CEO of Amenfiman Rural Bank, Dr Alexander Asmah, expressed optimism about the collaboration. 

In addition to the financial assistance, DBG would provide technical support to strengthen Amenfiman’s management and operational capacities.

There would also be training in Environmental, Social, and Governance (ESG) practices to equip the ARB's staff to address the diverse needs of their micro, small, and medium enterprise (MSME) clients. 

Reach  

For his part, the CEO of DBG, Kwamina Duker indicated that this collaboration would ensure that underserved communities accessed the resources needed for sustainable growth.

He also added that ARB was the first rural bank that DBG has partnered. He then outlined the strategic importance of working with ARB.

"Through this, DBG will extend its footprint to rural Ghana by leveraging Amenfiman’s extensive presence in the Western, Western North, Central, and Ashanti Regions.

The Deputy CEO of DBG, Michael Mensah Baah, also highlighted the significance of this initiative to his outfit.

“Partnering with Amenfiman Rural Bank goes beyond expanding our reach. It is also about building real, lasting economic transformation and empowering entrepreneurs," he said.

He added that DBG targeted inclusive growth and economic resilience by providing tailored financial solutions for youth entrepreneurs.

Mr Mensah added that the partnership underscored the shared vision of creating jobs, fostering local development, and contributing to Ghana’s long-term economic goals.