The Development Bank Ghana (DBG) has identified five textile projects that it is now presenting to participating financial institutions for potential financing. The move is part of the bank’s effort to unlock long‑term funding for businesses in the textile sector.
Chief Executive Officer Prof Randolph Nsor‑Ambala said the textile industry remains a priority area under manufacturing, alongside pharmaceuticals and energy transition. He added that DBG’s mandate covers agriculture, manufacturing, ICT and high‑value services, and that the bank is focusing on youth‑led and women‑owned businesses as well as expanding beyond the Greater Accra region.
DBG has adopted a whole‑of‑value‑chain approach, signing a three‑year memorandum of understanding with the Association of Ghana Industries to finance textile businesses, support market development, capacity building and provide technical assistance to help firms develop investor‑ready projects.
The partnership has already produced tangible results. DBG worked with GIZ, Palladium, JET and other partners to train textile businesses, creating a deal room to assess and develop projects for financing. “As we speak, we have currently road‑showed five of those projects that came out of that deal room across various participating financial institutions, and they’re at various levels of approval,” Prof Nsor‑Ambala said.
He expects at least two of the projects to secure credit approval and disbursement before the end of the year. DBG is also conducting a nationwide feasibility study into the textile sector with support from KfW, identifying challenges and projects that could be bankable with specific interventions.
“We are working with those businesses with a timeline of up to the end of November to make them investor‑ready and then help them through our participating financial institutions to receive adequate funding,” Prof Nsor‑Ambala added.
Development partners remain critical to DBG’s ability to provide long‑term financing. “They are bringing a significant chunk of the cash, and they are willing to do more. They have been phenomenal in service and technical assistance, massively supported by their resources, both money and time,” he said.
DBG’s focus on expanding financing beyond the capital city and prioritising women and youth‑led enterprises signals a broader strategy to strengthen Ghana’s manufacturing base and create sustainable growth.
