Tag: National Development Bank
-
Kofi Yamoah appointed as new Board Chair of Venture Capital Trust Fund
The President, Nana Addo Dankwa Akufo-Addo, has appointed former Managing Director of the Ghana Stock Exchange, Kofi Yamoah as the Board Chair of the Venture Capital Trust Fund (VCTF) board. Kofi Yamoah has worked at the Ghana Stock Exchange for about 29 years. He was appointed Managing Director of the bourse in 2003. He is…
-
Run National Development Bank as a business – Prof. Quartey to government
Professor of economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey has stated that the establishment of the National Development Bank will have no positive impact on the growth of the economy if government fails to apply proper business management in its operations. The establishment of the bank which has…
-
National Development Bank to commence operations by July ending – Ofori Atta
The National Development Bank is set to commence operations by the end of July 2021. This is according to the Finance Minister, Ken Ofori-Atta. According to him, government has now been able to raise the required seed capital of over 500 million dollars for the financial institution to fully begin operations. It will be recalled…
-
World Bank approves US$250 million for establishment of Development Bank Ghana
The World Bank Board of Executive Directors on Thursday, October 29, 2020, approved US$250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG) also known as the National Development Bank. The move is to help to increase access to long term finance and boost job creation…
-
NDB won’t duplicate functions of existing state-owned banks – Otuo Acheampong
Banking Consultant, Nana Otuo Acheampong, has dismissed assertions that the impending National Development Bank is not needed because it will only perform the functions of other existing state-owned banks. Presenting the 2020 budget in Parliament on Wednesday, the Finance Minister, Ken Ofori-Atta, explained that the bank, which is expected to start operations next year, will…
-
Gov’t secures US$250m World Bank funds to start National Development Bank next year
The National Development Bank is expected to commence operations in 2020 to provide access to cheaper and long-term funding to some key companies operating in the agriculture and manufacturing sectors. The Finance Minister delivering the 2020 budget statement to Parliament said the government is set to complete discussions with the World Bank and other development…