Development Bank Ghana (DBG) is advocating targeted financing instruments and stronger business development support to unlock the potential of Ghana’s Information and Communication
The report indicates that development Bank Ghana (DBG) is advocating targeted financing instruments and stronger business development support to unlock the potential of Ghana’s Information and Communication Technology (ICT) sector, warning that a one-size-fits-all approach will not work.
It further notes that the state-backed development finance institution says a nationwide feasibility study identified financing, policy alignment, investor readiness and business development as the major barriers confronting ICT businesses.
CEO Prof. Randolph Nsor-Ambala made the case at an ICT roundtable discussion in Accra, where the Bank engaged financiers, investors, engineers, innovators and ICT businesses on practical solutions to the sector’s challenges.
Structure of financing matters just as much as access
Prof. Nsor-Ambala stated access to capital, while critical, is not the sector’s only problem, stressing that the structure of financing matters just as much as its availability.
“Our view of things is that it goes beyond just financing. When it comes to financing, it also has to do with the structure of the financing. What is the appropriate financing instrument they need?” he said.
He stated the study showed the ICT sector has different value chains with varying needs, making tailored interventions necessary.
“The ICT sector is not homogeneous. The value chain is complex, and the peculiarities associated with the various streams of value chains require different actions.”
According to him, the next step is to break down the challenges across the various segments of the ICT value chain and develop targeted interventions that can produce measurable results.
“We need to essentially disabuse our mind, first of all, from the one-size-fits-all solution. The second thing is that we need to agree with everybody in the room around what would success look like,” he said.
He also called for continuous engagement among stakeholders to track progress and ensure that agreed interventions deliver the desired outcomes.
Prof. Nsor-Ambala stated DBG’s mandate is to build a competitive and inclusive private sector rather than concentrate opportunities in the hands of a few businesses.
“Our mandate is to create a competitive private sector. Competitive private sector essentially means that we do not believe in creating opportunities for just a few,” he said.
Beyond the ICT sector itself, Prof. Nsor-Ambala stated DBG is applying technology to address information gaps in Ghana’s agribusiness sector, where limited access to reliable technical information has made it difficult for some farmers to view their activities as commercially viable businesses.
