Development Bank Ghana and Ishmael Yamson & Associates Lead Strategic Initiatives to Boost SME Growth and Youth Empowerment

5th June•2 min read•8 sources

The Ghanaian business landscape is witnessing a significant surge in strategic support for small and medium-sized enterprises (SMEs) and youth development, spearheaded by Development Bank Ghana (DBG) and Ishmael Yamson & Associates. Celebrating its fifth anniversary, DBG has announced an ambitious scaling up of its lending operations, specifically targeting women-led businesses and young entrepreneurs. CEO Professor Randolph Nsor-Ambala highlighted that financing these sectors is vital for job creation and improving national living standards. The bank aims to provide substantial loan facilities, including amounts up to US$5 million, alongside extensive technical assistance to ensure local businesses meet international market standards.

Parallel to these efforts, the 12th Business Roundtable (BRT 2026), organized by Ishmael Yamson & Associates, saw the launch of a new Foundation dedicated to nurturing young African talent. Attended by over 400 participants, including government officials and industry leaders, the forum focused on unlocking Africa’s potential through digital infrastructure, trade integration, and industrialization. Finance Minister Dr. Cassiel Ato Forson addressed the gathering, emphasizing the urgent need for Africa to transition from a consumer-based economy to a competitive production force. The Foundation aims to equip the next generation with the leadership skills necessary to navigate future economic challenges and maintain global relevance.

In a related effort to stimulate local economic development, the Korle-Klottey Municipal Assembly (KoKMA) is set to host the Korle-Klottey Business and Investment Forum. This event aims to bridge the gap between the public and private sectors, showcasing investment potentials and fostering strategic partnerships among approximately 150 corporate entities. Meanwhile, the industrial sector received a morale boost as the Paramount Chief of Buipe, Abdulai Jinapor II, honored Sammy Gyamfi, CEO of the Ghana Gold Board (GOLDBOD), for his leadership. The recognition underscores GOLDBOD’s role in driving agricultural productivity and gold reserve accumulation, particularly within the Savannah Region, as part of a broader national transformation agenda.

These collective initiatives represent a unified push toward a more resilient and self-sufficient Ghanaian economy. By focusing on technical assistance, youth leadership, and regional industrialization, these organizations are laying the groundwork for sustainable growth. The emphasis on moving from passive consumption to active production, as highlighted during the BRT 2026, remains a central theme for Ghana's future economic strategy as institutions collaborate to empower vulnerable groups and scale up local businesses.

This story touches markets covered on Anansi Intelligence ↗.

Live rates

Ghana gold price →

More from business

Continue exploring similar stories

Ghana’s Telcos Owe Musicians and It’s Time to Pay Up

business|Yesterday

Ghanaian Musicians Demand Fair CRBT Royalties as 1xBet Concludes Major Consumer Promo

Ghana's digital and telecommunications sectors are currently navigating a complex landscape defined by systemic financial disputes in the creative arts and high-stakes consumer engagement in the gaming industry. At the forefront of these developments is a growing controversy surrounding the revenue-sharing model for Caller Ring Back Tones (CRBTs), where telecom companies are accused of exploiting local creators. Despite the widespread popularity of these musical tones, current industry practices allow telecommunications firms to retain approximately 70% of the total revenue generated. This lopsided arrangement has left many Ghanaian musicians with meager compensation, while songwriters—the essential architects of the music—are reportedly receiving no royalties at all. This financial disparity has sparked significant concern regarding the economic sustainability of the creative arts in Ghana. The Ghana Music Rights Organisation (GHAMRO) has been active in seeking legal redress, with court rulings confirming that telecom operators are indeed obligated to pay royalties for the use of copyrighted works. However, stakeholders report that compliance remains inconsistent and transparent accounting practices are lacking. This neglect not only undermines the livelihoods of individual artists but also threatens the broader health of the music industry. Experts argue that without immediate regulatory intervention and the enforcement of fair payment structures, the symbiotic relationship between the telecom and music sectors will continue to be exploitative rather than mutually beneficial. While the creative sector battles for fair wages, the digital betting industry continues to thrive through aggressive marketing and consumer rewards. 1xBet recently concluded its "Game On" promotion, a two-month campaign that ran from April 1 to May 31, aimed at boosting user loyalty through substantial incentives. The campaign offered Ghanaian players weekly cashback of up to 20% and various betting tickets, highlighting the significant capital being circulated within the digital gaming market. The culmination of this promotion was an award ceremony held on June 6 in Accra, where the brand recognized several high-performing participants. Among the notable winners was Rahman Habibur, who was awarded an iPhone 16, and Boamah-Kumi Ernest, who received a cash prize of 5,500 GHS. These incentives reflect the intense competition among digital service providers to capture and retain the attention of the Ghanaian public. The success of such promotions underscores a vibrant digital economy, yet it stands in stark contrast to the financial struggles of the musicians whose content often drives digital engagement. The juxtaposition of these two business developments illustrates the complexity of Ghana's modern economy. On one hand, there is a clear demand for digital content and services that can generate significant revenue and prizes; on the other, there is a critical need for structural reform to ensure that the primary creators of value are not left behind. As regulators and industry leaders move forward, the challenge will be to create an environment where corporate promotional success and fair intellectual property compensation can coexist, ensuring that Ghana's digital growth benefits all stakeholders in the value chain.

business|Yesterday

Eric Ebo Acquah Honoured at 10th Ghana CEO Summit as AI Reshapes National Supply Chain Strategies

The 10th Ghana CEO Summit, held at the Kempinski Hotel Gold Coast City in Accra, recently spotlighted the pivotal role of leadership and innovation in driving the nation's economic transformation. At the heart of the event, Eric Ebo Acquah, the Chief Executive Officer of Blue Rose Estate Ltd, was distinguished with the Leadership Excellence Award in the Affordable Housing Category. Organized by the CEO Network Ghana in partnership with industry giants such as Deloitte, PwC, EY, and the Ghana Investment Promotion Centre (GIPC), the summit served as a platform to recognize individuals and organizations making significant strides in Ghana's business landscape. Mr. Acquah's recognition comes as a testament to his three decades of dedication to the real estate sector. With over 37 years of experience and a track record of delivering more than 2,500 homes, Blue Rose Estate has established itself as a cornerstone of affordable and sustainable housing in Ghana. Upon receiving the award, Mr. Acquah attributed the success to his entire team’s commitment to addressing the country's housing deficit. His accolades already include the state honour of the Order of the Volta and being named the Most Respected CEO in Africa within the real estate category, further solidifying his influence on national development. While leadership excellence remains a constant in traditional sectors like housing, the broader Ghanaian business environment is simultaneously navigating the rapid integration of Artificial Intelligence (AI) into supply chain management. AI is increasingly being utilized across the country for demand forecasting, route optimization, and early problem detection. However, industry analysis suggests that while AI provides technical efficiency, it cannot replace the relational aspects of business, such as managing complex supplier relationships. This highlights a growing need for Ghanaian professionals to move beyond basic AI usage toward a deeper understanding of its technical principles and ethical applications. The intersection of seasoned leadership and emerging technology suggests a dual path for Ghana's economic future. For small and medium enterprises (SMEs), the transition involves making deliberate choices about training and communication to ensure that human-centric management and workplace inclusion are not overshadowed by automation. As the CEO Summit emphasized, the synergy between experienced leadership—exemplified by figures like Mr. Acquah—and the strategic adoption of innovative tools like AI will be the primary driver for sustainable growth in the West African region.

business|Yesterday

Dangote Refinery Slashes Petrol Prices Amid Ghanaian Cedi Stability and Cooling US Hospitality Job Market

The West African business landscape is witnessing significant shifts as Nigeria’s Dangote Petroleum Refinery implements a strategic price cut for petrol while the Ghanaian Cedi maintains a steady performance against major international currencies. Simultaneously, global economic indicators from the United States show a cooling trend in the hospitality sector, defying earlier expectations of a World Cup-driven employment boom. These developments reflect a complex interplay of localized industrial competition and broader macroeconomic adjustments affecting both regional trade and international labor markets. In a move set to intensify competition within Nigeria’s downstream petroleum sector, the Dangote Petroleum Refinery has reduced the ex-gantry price of Premium Motor Spirit (petrol) from N1,125 per litre to N1,075 per litre. This N50 reduction, representing a 4.4% decrease, marks the latest effort by the refinery to make fuel more accessible and competitive. In tandem with these price adjustments, the Ghanaian Cedi has shown notable resilience against the US dollar. Market reports indicate an average buying rate of GHS 11.18 and a selling rate of GHS 11.88 on the interbank market, while forex bureaus held selling rates at GHS 12.25. Stability was also observed against the British Pound and Euro, providing a predictable environment for Ghanaian importers and businesses using platforms like LemFi and Taptap Send for remittances. On the international front, the United States Bureau of Labour Statistics reported a surprising contraction in the leisure and hospitality sector, which lost 61,000 jobs in June. This decline comes as a surprise to analysts who had anticipated a hiring surge in preparation for the upcoming World Cup to be hosted across North America. While overall US employment rose by 57,000—a figure lower than projected—the unemployment rate fell slightly to 4.2%. Economic experts are describing this scenario as a "Goldilocks" economy—one that is neither too hot nor too cold—potentially signaling that further aggressive interest rate hikes by the US Federal Reserve may be less likely in the near term. These diverse economic signals highlight the varied challenges and opportunities currently facing African and global markets. While the reduction in Nigerian fuel prices and the stability of the Cedi offer a reprieve for West African consumers and traders, the cooling of the US labor market serves as a reminder of the shifting global economic tides. For Ghana, the continued stability of the exchange rate remains crucial for maintaining domestic price stability as the region navigates these evolving international financial conditions and the competitive pressures introduced by new industrial giants like the Dangote Refinery.

President Mahama (3rd from right) joined by Elizabeth Ofosu-Adjare (2nd from right), Kenneth Gilbert Adjei (right) and other dignitaries to cut the sod for the Tema Integrated Industrial Park project

business|Yesterday

Ghana Advances Industrial and Agricultural Growth through Tema Industrial Park Launch and Strategic Sector Governance

Ghana is taking significant strides toward economic diversification and value addition with a series of major developments across the industrial and agricultural sectors. Central to this transformation is the launch of the Tema Integrated Industrial Park (TIIP) by President John Dramani Mahama, a project designed to position the nation as a regional industrial hub. Strategically located near the Port of Tema and VALCO, the park focuses on building a comprehensive aluminium value chain. This initiative is expected to generate over 4,000 jobs, with the engineering firm Danieli already committed as the first major tenant to construct an aluminium foil rolling mill. President Mahama emphasized that shifting from exporting raw materials to high-value manufacturing is essential for retaining national wealth and fostering long-term economic resilience. In tandem with industrial expansion, the agricultural sector is undergoing a governance overhaul to better manage key export crops. The Cashew Council Ghana (CCG) recently inaugurated a new 15-member governing board in Sunyani, led by Chairman Ed-Malvin Nii Ayi Bontey Smith. This board is tasked with enhancing coordination across the cashew value chain and strengthening stakeholder engagement in collaboration with the Tree Crops Development Authority (TCDA). The inauguration comes at a pivotal time as the African Cashew Alliance prepares to host the 2026 Annual Cashew Conference and Expo in Accra this September, focusing on securing a sustainable cashew supply for global markets. Further bolstering the domestic agricultural economy, the Kwahu Afram Plains North District is set to commission a modern cattle market in Donkorkrom on July 11, 2026. The facility aims to streamline livestock trading, enhance food security, and create new economic opportunities for residents in the region. By providing a centralized, modern infrastructure for livestock commerce, the government intends to improve the livelihoods of local farmers and traders. Collectively, these initiatives—spanning from heavy industrial manufacturing in Tema to specialized agricultural governance in Sunyani and livestock trade in the Afram Plains—represent a multi-faceted approach to achieving sustainable economic development and vocational empowerment across Ghana.

Stay Informed

Explore

Categories

Features

Topics

Legal

Development Bank Ghana and Ishmael Yamson & Associates Lead Strategic Initiatives to Boost SME Growth and Youth Empowerment

More from business

Ghanaian Musicians Demand Fair CRBT Royalties as 1xBet Concludes Major Consumer Promo

Eric Ebo Acquah Honoured at 10th Ghana CEO Summit as AI Reshapes National Supply Chain Strategies

Dangote Refinery Slashes Petrol Prices Amid Ghanaian Cedi Stability and Cooling US Hospitality Job Market

Ghana Advances Industrial and Agricultural Growth through Tema Industrial Park Launch and Strategic Sector Governance