DailySun
This article is sponsored by BIDC
During a series of public lectures centered around the theme “Shaping Africa’s Development Finance Landscape: Challenges and Prospects”, he shared his insights at the University of Development Studies (UDS) School of Business in Tamale, Ghana.
While discussing the financial hurdles faced in capital markets, the President of EBID pointed out that private credit often struggles in economic downturns, whereas Development Finance Institutions (DFIs) can offer crucial long-term financing for investment projects. He highlighted the essential function of DFIs in aiding governments to revitalize struggling sectors and support economic recovery in the face of various global challenges.
“DFIs play a pivotal role in the advancement and development of emerging and developing nations. They are key in facilitating market growth, reducing 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 force in transforming the region through the financing of important ECOWAS projects and initiatives across prioritized economic sectors.”
He underscored the necessity for policy improvements, which include the establishment of robust corporate governance frameworks within DFIs, comprehensive risk management approaches, and strong monitoring and evaluation systems to enhance their impact on the African economy.
The lecture also explored innovative financial mechanisms, such as green funds, and outlined strategies to position Africa as a promising investment hub, while advancing towards the Sustainable Development Goals (SDGs) and the African Union Agenda 2063. The Pro Vice-Chancellor of the University, Professor Elliot Haruna Alhassan, who stood in for Vice Chancellor Professor Seidu Alhassan, presided over the event, which drew esteemed scholars, finance experts, students, and members of the general public.
