Ghana Seeks Stronger Support for Tech Startups Through Development Bank Partnership

Ghana Seeks Stronger Support for Tech Startups Through Development Bank Partnership

The discussions focused on improving access to patient capital, strengthening mentorship programmes and addressing structural challenges facing entrepreneurs.

Ghana’s Ministry of Communication, Digital Technology and Innovations has engaged with Development Bank Ghana (DBG) to explore new strategies aimed at supporting the country’s growing technology ecosystem through funding, mentorship and long-term business development support.

Development Bank Ghana outlined its approach to supporting businesses through flexible risk management and long-term financing solutions. The bank indicated that its focus extends beyond traditional lending by providing funding structures that allow businesses to grow over longer periods, with financing tenures that can extend up to 10 or 15 years.

Minister for Communication, Digital Technology and Innovations, Samuel Nartey George, welcomed the bank’s approach, noting that the country’s digital transformation ambitions require investment in sectors that have long-term economic and social impact. He identified agritech, healthtech and edtech as critical sectors that require patient capital to support innovation and sustainable growth.

The minister also highlighted the challenges facing many early-stage startups, particularly the lack of business development support. While some entrepreneurs are able to access funding, many struggle with building internal structures, developing sustainable business models and managing growth effectively.

According to the ministry, mentorship and hands-on support remain critical components of a successful startup ecosystem. The discussions explored the possibility of financial institutions playing a more active role in supporting entrepreneurs beyond the provision of capital.

The meeting also provided an opportunity to discuss the proposed Ghana Innovation and Startup Bill, which aims to establish a legal framework for the country’s startup ecosystem. The proposed legislation is expected to define what qualifies as a startup, provide tax incentives and create transparent funding mechanisms to support innovative businesses.

Under the proposed framework, government-backed investment programmes and structured pitch sessions could help startups access funding while preparing them for future private sector investment. Financial institutions such as Development Bank Ghana could also take on mentorship responsibilities, helping founders strengthen their businesses before seeking venture capital funding.

The discussions reflect Ghana’s broader efforts to build a more resilient technology ecosystem by improving access to finance, strengthening institutional support and creating policies that encourage innovation and entrepreneurship.