This article is sponsored by BIDC
He made his remarks during a series of public lectures themed “Shaping Africa’s Development Finance Landscape: Challenges and Prospects” at the University of Development Studies (UDS) School of Business located in Tamale, Ghana.
While addressing the financial challenges inherent in capital markets, the President of EBID pointed out that although private credit can wane during economic slowdowns, Development Finance Institutions (DFIs) play a crucial role by providing necessary long-term funding for investment projects. He underscored the pivotal function of DFIs in aiding governments to revitalize faltering industries and stimulate economic recovery in the face of various global challenges.
“DFIs are essential for the growth and advancement of emerging and developing nations. They play a critical role in fostering market expansion, mitigating risks, and enabling investors to explore untapped markets,” Dr. Donkor remarked. He added, “Over the years, EBID has emerged as the foremost DFI in West Africa, acting as a significant catalyst in transforming the region through financing substantial ECOWAS initiatives and programs across key economic sectors.”
He stressed the importance of policy improvements, such as establishing solid corporate governance structures within DFIs, implementing comprehensive risk management frameworks, and developing effective monitoring and evaluation systems to enhance their impact on the African economy.
The lecture further explored innovative financial instruments, like green funds, and outlined strategies aimed at positioning Africa as an attractive investment hub, while making strides toward the Sustainable Development Goals (SDGs) and the African Union Agenda 2063. The Pro Vice-Chancellor of the University, Professor Elliot Haruna Alhassan, who represented Vice Chancellor Professor Seidu Alhassan, presided over the event, which drew esteemed scholars, finance experts, students, and community members.
