The Development Bank Ghana (DBG), established with ambitious goals to bolster the private sector, is engulfed in a severe governance and management crisis, according to a scathing exposé by the Vice President of IMANI Africa, Bright Simons.
Revelations by the whistleblower, based on a confidential Deloitte "progress report", point to alleged financial mismanagement and deep-seated internal wrangling within the institution, forcing the government to involve state security agencies.
In a post on LinkedIn, Mr Simons said the controversy surfaced in November 2024, when IMANI Africa reportedly "got wind of a civil war inside DBG", pitting internal compliance, risk, and audit functions against the dominant factions of the Board and management.
This internal strife escalated to the point where two directors resigned in protest over serious governance failings.
