Finance Minister, Cassiel Ato Forson, says the government and its development partners have agreed on sweeping reforms for the Development Bank Ghana (DBG) following a Deloitte audit that exposed governance and operational lapses.
The minister met earlier today with representatives of the World Bank, the African Development Bank (AfDB), Germany’s KfW, and the European Investment Bank (EIB) to deliberate on the audit findings. He said the report will be handed to the Attorney General for legal action where necessary.
“We reached a clear consensus: decisive action is required,” Mr. Forson said, adding that “the past is behind us, and a new dawn has begun for DBG.”
The bank is currently finalising its Corporate and Action Plans to rebuild confidence and strengthen operations. The Finance Minister stressed that accountability is non-negotiable. “Those who contributed to weakening the institution will be held responsible,” he said.
He also confirmed that a competitively selected chief executive officer will be appointed by Monday, with a new board to be fully constituted by the end of October.
DBG’s Interim Board Chair, Albert Essien, said the institution remained committed to “transparency, accountability, and prudent governance,” a position welcomed by Ghana’s development partners.
President John Mahama, according to the minister, is “resolute in ensuring that DBG fulfils its mandate to support Ghana’s transformation agenda.”
The reforms mark the most significant step yet to restore credibility at the state-owned bank, established to boost private sector lending and drive long-term economic growth.
