The Ministry of Communication, Digital Technology and Innovations and Development Bank Ghana (DBG) have begun discussions on a strategic partnership aimed at strengthening Ghana’s technology ecosystem by improving access to finance, business development support and long-term investment for startups.
The engagement brought together senior officials from both institutions to explore a coordinated approach to de-risking innovative businesses, mentoring entrepreneurs and creating an enabling environment for high-growth technology companies.
Leading the DBG delegation, Deputy Chief Executive Officer Michael Mensah-Baah said the development bank is focused on addressing structural financing challenges that continue to limit the growth of Ghanaian startups.
“As a development bank, our interest is on the structural side, bridging the gap with flexible risk management and offering competitive, long-term funding of up to 10 or 15 years,” he said.
Minister for Communication, Digital Technology and Innovations, Samuel Nartey George, commended DBG’s stakeholder-driven approach, noting that Ghana’s digital transformation agenda requires patient capital that recognises the unique nature of technology businesses.
He stressed that while the fintech sector has made significant progress, greater attention should be directed towards high-impact sectors such as agritech, healthtech and edtech.
“Tech capital cannot be priced like real estate capital. It must be patient capital because it takes time for these innovations to mature,” the Minister stated.
Mr. George also identified the lack of business development support as one of the biggest challenges facing young entrepreneurs, explaining that access to finance alone is insufficient to build sustainable businesses.
“There is no business development support that goes to those young tech startups. We give them money, but there is nobody there to hold their hands, build structures and guide them on how to run a business sustainably,” he said.
To address these challenges, the Minister highlighted the government’s proposed Ghana Innovation and Startup Bill, which is expected to establish a legal framework for startups, introduce tax incentives and create transparent government-backed investment mechanisms.
Under the proposed framework, financial institutions such as DBG would play a broader role by combining financing with mentorship and capacity building, helping startups become investment-ready and attractive to private venture capital.
The initiative forms part of broader efforts to strengthen Ghana’s innovation ecosystem, promote entrepreneurship and position the country as a leading technology hub in Africa.
Source: businesspostonline
