The Development Bank Ghana (DBG) says it is committed to reviving the country’s struggling textiles and garment sector, once a cornerstone of industrial growth and employment. The Bank has pledged to reverse the industry’s decades-long decline through strategic financing, policy alignment, and targeted partnerships.
Dr Randolph Nsor-Ambala, Acting Chief Executive of DBG, sees the industry’s downturn, from over 25,000 direct jobs in the late 1970s to just 6,000 by 2020, as a challenge to be met. “We recognise this decline not as a conclusion, but as a call to action,” he said at a policy dialogue in Accra.
He was speaking at a dialogue organised by DBG in collaboration with the Association of Ghana Industries (AGI), focused on challenges, pitfalls, and opportunities in the sector under the theme “Revamping Ghana’s Textiles and Garments Industry, The Challenges, Pitfalls and Opportunities.”
The dialogue aimed to address key policy barriers and generate concrete recommendations to stimulate sector growth. Issues raised included cheap imports, weak customs enforcement, and fragmented incentives that have undercut local manufacturers.
“DBG stands at the forefront of Ghana’s development agenda, not just as a financier, but as a long-term driver of structural transformation,” said Nsor-Ambala. He outlined how DBG is working with Participating Financial Institutions (PFIs) to identify five bankable, investor-ready projects. The Bank is also launching a sector-wide feasibility study to map the value chain and fill gaps in industry intelligence.
To support these plans, DBG is conducting a capacity needs assessment to shape future technical assistance for both businesses and financial institutions. These findings will inform the Bank’s upcoming sector action plan, combining data, capital and capacity-building to drive transformation.
As part of the follow-up, DBG and AGI will produce a policy brief with proposed regulations, enforcement tools, and investment incentives. “DBG will embed the recommendations in an industry action plan, pairing long-term lending with hands-on technical assistance for players across the value chain,” said Nsor-Ambala.
AGI President Dr Humphrey Kwesi Ayim Darke called on government to ensure a stable, export-oriented incentive regime, saying the private sector is ready to invest if policy conditions improve.
Experts at the dialogue noted that successful reforms could expand wax-print production in Tema, grow cut-and-sew operations in Accra, and help absorb youth into industrial employment at scale.
In a similar development, the Ghana Free Zones Authority (GFZA) in February, held talks with Yintak Intex, an Asian intimate apparel manufacturer, to explore investment opportunities under the country’s Free Zones Scheme, intensifying efforts to attract foreign investment in Ghana’s textile and apparel industry.
