DBG partners Sinapi Aba to support MSMEs

The Development Bank Ghana (DBG) has announced a strategic partnership with Sinapi Aba Savings and Loans Ltd. in a significant move to bolster the micro, small and medium enterprises (MSMEs) sector.

This collaboration, facilitated by a loan facility of GH¢15million, marks a pivotal moment for both institutions as they aim to empower local businesses and uplift economically disadvantaged communities.

Kwamina Duker, Chief Executive Officer-Development Bank Ghana, commenting on the partnership said: “We are set to make a transformative impact on various sectors, including education, agriculture, health and manufacturing.

“Our primary focus remains on uplifting the economically disadvantaged, and I’m proud to say that 150 MSMEs will benefit from our collaboration – with 50 of these being women-led businesses. Moreover, the ripple-effect of our efforts will resonate across the nation; creating around 6,000 jobs, supporting 30 youth entrepreneurs and indirectly benefiting an astounding 30,000 individuals,” he added.

The DBG said it remains committed to fuelling economic growth. Since its inception in June 2022, it has already disbursed GH¢731million to various sectors. “Our vision is clear, and our processes streamlined,” Mr. Duker noted, “with our enhanced lending system, we’ve become more efficient, enabling swifter disbursements to our partners. By the end of 2023, we aim to disburse a staggering GH¢1billion.”

Highlighting the importance of his outfit’s mandate, Mr. Duker emphasised that the goal is not merely to become the largest lender, but to transform the private sector. “If I become the largest lender without transforming the private sector, I will have failed”.

Sinapi Aba Savings and Loans Ltd., known for its rich history of providing financial services to MSMEs and individuals with limited access to traditional banking services, becomes the first savings and loans company to be onboarded as a Participation Financial Institution (PFI) by the DBG. This partnership will enable DBG to leverage Sinapi Aba’s extensive network of forty-four branches located in 14 of the country’s 16 regions.

It provides DBG access to 65 percent of Sinapi Aba’s customers in rural areas, facilitating long-term capital s for business growth.

Anthony Gyasi Fosu, Chief Executive Officer-Sinapi Aba Savings and Loans, praised the alliance with DBG as a game-changer for local businesses seeking longer-term capital.

“The acknowledgment by DBG of Sinapi Aba’s pivotal role in the noble mission of building lives through financial inclusion and empowerment stands as a profound endorsement of our enduring commitment spanning 29 years. This recognition underscores our capacity to broaden financial access across a more extensive market, augmenting our capacity to provide enhanced financial solutions,” he stated.

Sinapi Aba Savings and Loans Ltd., licenced and supervised by the Bank of Ghana since 2013, has a steadfast commitment to providing innovative financial solutions and training to MSMEs, focusing on agriculture, business, housing and education.

DBG, established by government, serves as a development finance institution with the primary goal of facilitating and strengthening long-term financing for businesses. In addition to financial services, DBG is dedicated to delivering appropriate non-financial support to enhance the country’s business ecosystem while ensuring the application of sustainable and global best practices.

With this new partnership, DBG and Sinapi Aba are poised to drive economic growth, create jobs and transform the lives of thousands of individuals – particularly those in underserved rural areas, setting an example for the country’s broader financial inclusion and development sector.


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The Development Bank Ghana (DBG) has announced a strategic partnership with Sinapi Aba Savings and Loans Ltd. in a significant move to bolster the micro, small and medium enterprises (MSMEs) sector.