The management of Development Bank Ghana (DBG) has clarified that the document which is the basis of publications in the media is not an approved, final, or concluded one. "As part of the internal audit process, this document is scheduled to be examined by the DBG Board at the next meeting scheduled for this month.
In line with our commitment to transparency, we are however providing clarifications on a few of the inaccuracies published. "Recent statements made in the media regarding Development Bank Ghana's operations and governance have come to our attention, considering the significant inaccuracies, misleading information, and falsehoods in these publications," a statement issued by the DBG has stated.
The statement said the DBG or the bank was established as a wholesale Development Finance Institution (DFI) under the Development Finance Institutions Act, 2020 (Act 1032), with a mandate to accelerate Ghana's economic transformation.
Regarding the false publication that the bank was capitalised with US$750 million and an additional GH¢1 billion, the DBG explained that it could be easily verified from the publicly available audited financial statements, DBG was initially capitalised in 2021 by the Government of Ghana (GoG), with an amount of GH¢1.135 billion, equivalent then to US$200 million.