DFC signs statement reaffirming ongoing partnership for Ghana facility investment
17-10-2023 09:15:00 | by: Marlene Mutimawase | hits: 1385 | Tags:

U.S. International Development Financing Corporation Chief Executive Officer (CEO) Scott Nathan traveled to Accra, Ghana, to meet with prospective private sector partners to discuss opportunities to work together to promote economic growth in Ghana.

He also met with existing clients to discuss challenges they are facing with receiving stable payments from the government and to identify new opportunities to partner. Lastly, CEO Nathan met with government leaders to discuss how DFC financing can help unlock private sector-led growth across sectors, including in energy, agribusiness, digital infrastructure, and small business support.

In Accra, CEO Nathan joined African Data Centres (ADC) leaders and U.S. Ambassador to Ghana Virginia Palmer to sign a statement reaffirming their shared commitment to strengthen information and communications technology (ICT) infrastructure in Ghana. ADC is constructing a first-of-its-kind data center in Ghana.

DFC announced its up to $300 million commitment to ADC to support the development, expansion, and operation of data centers in South Africa, Kenya, and other DFC-eligible countries in December 2020. DFC supports building secure, trusted information technology networks that will help enable development and economic growth throughout Africa.

CEO Nathan met with Opportunity International Savings and Loans CEO Kwame Owusu-Boateng to sign a $2.5 million loan portfolio guaranty to support lending to micro, small, and medium enterprises (MSMEs) and farmers in northern Ghana. CEO Nathan also formalized DFC’s support of Absa Bank Ghana during a ceremony with Absa Bank Ghana Director of Business Banking Grace Anim Yeboah.

DFC’s $10 million loan portfolio guaranty will support Absa Bank’s lending to small and medium enterprises (SMEs) in the agriculture sector in northern Ghana. Both transactions will unlock working capital for small business and farmers in northern Ghana, which experience higher rates of poverty and malnutrition.

CEO Nathan and Ambassador Palmer met with Vice President Mahamudu Bawumia to discuss DFC’s work in Ghana and explore new opportunities to support the private sector and its contributions to Ghana’s economic growth. CEO Nathan also emphasized the importance of a transparent regulatory environment that prioritizes sanctity of contract to attract and retain private sector investment.

While in Accra, CEO Nathan visited DFC client LuccaHealth Medical Specialty Center Ghana, which provides high-quality health care to patients in Ghana. LuccaHealth received a $7.5 million loan from DFC to fund the construction of an ambulatory surgical center. LuccaHealth provides minimally invasive outpatient procedures, same-day surgical interventions, and modern diagnostics.

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