{"id":41406,"date":"2023-05-01T09:59:23","date_gmt":"2023-05-01T09:59:23","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=41406"},"modified":"2023-05-01T11:34:05","modified_gmt":"2023-05-01T11:34:05","slug":"commercial-banks-urged-to-establish-impact-investment-fund-post-ddep","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep","title":{"rendered":"Commercial banks urged to establish impact investment fund post DDEP"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Ghana. <\/strong><\/span><b>A private equity and international business consultant, Dr Richmond Odartey Lamptey, has urged commercial banks to establish impact investment funds post Ghana\u2019s Domestic Debt Exchange Programme.<\/b><\/p>\n<p>Dr Lamptey noted that the DDEP had affected the ability of commercial banks to provide financial support to businesses due to some losses incurred.<\/p>\n<p>It has, therefore, become important for commercial banks to explore innovative capital financing means, including impact investment funds to shore up liquidity and be in a better position to resource SMEs \u2013 the engine of economic growth.<\/p>\n<p>Such funds, he said, would come with investment capital, technical assistance for both banks and businesses, and support the attainment of financial and developmental goals.<\/p>\n<p>He said this in an interview at a stakeholder engagement and dissemination conference in Accra, which discussed ways of restoring commercial bank\u2019s liquidity for SME financing post-DDEP.<\/p>\n<p>\u201cYou go to the bank nowadays as an SME and they tell you that we\u2019re sorry we can\u2019t help you. Some even tell you that we\u2019re giving our money to importers,\u201d a women-led SME operator said during the conference.<\/p>\n<p>Dr Lamptey, who is also an Entrepreneurship and Strategy Lecturer at the University of Greenwich, London, advised commercial banks to, urgently establish impact investment units dedicated to SMEs.<\/p>\n<p>\u201cThere must be a paradigm shift in how commercial<\/p>\n<p>banks conduct financial intermediation \u2013 not just collect deposits and obtain the necessary returns.<\/p>\n<p>They should proactively set up impact investment funds and seek for additional funding and invest them to finance SMEs,\u201d he said.<\/p>\n<p>He noted that in recent years, developed economies, multilateral and development finance institutions were channeling such capital to developing countries through commercial banks and other financial intermediaries to fund businesses, including SMEs.<\/p>\n<p>This is a window of opportunity for commercial banks in Ghana to establish impact investment units and seek for additional funds to ensure that SMEs are empowered to generate growth in the economy, Dr Lamptey said.<\/p>\n<p>He was confident that Ghana\u2019s SME sector would be an engine of economic stability and sustainable growth should commercial banks explore utilising impact investment funds.<\/p>\n<p>He recommended that banks that access impact investment funds should consider areas of developmental needs of Ghana, including agribusiness, health, education and digital infrastructure development.<\/p>\n<p>The reporting guidelines and involvement of the fund givers, he said would ensure that the monies were given to SMEs capable of sustaining their business, creating employment and contributing to economic growth.<\/p>\n<p>Mr Clifford Duke Mettle, Chairman, International Chamber of Commerce-Ghana, also indicated that the DDEP had made some banks to incur losses, leading to a reduction in loans to particularly, the SME sector.<\/p>\n<p>\u201cFor 2022 alone, almost GHS6.1 billion was the loss incurred by banks and this is a serious problem to the balance sheet of banks post-DDEP, hence, the need to explore ways to restore commercial banks liquidity and ability to support SMEs,\u201d he said.<\/p>\n<p>\u201cAll the commercial banks should intentionally put<\/p>\n<p>impact investment funds in place because they have advantage \u2013 the interest rate is lower, and help in the sustainability of businesses,\u201d Mr Mettle said.<\/p>\n<p>He said reliefs by the Bank of Ghana and the establishment of the GHS15 billion Financial Stability Fund and the Development Bank Ghana seeing the need to support commercial banks to shore up liquidity would be helpful going forward.<\/p>\n<p>Impact investment makes commercial become more finance oriented, have de-risking opportunities and focus on a dual mission of financial returns and social and developmental impact.<\/p>\n<p>The funds, which is noted for yielding positive financial returns and developmental impacts, is being flown to developing countries to support the achievement of the United Nations (UN) sustainable Development Goals and SMEs.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/ghana\">Ghana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Ghana. A private equity and international business consultant, Dr Richmond Odartey Lamptey, has urged commercial banks to establish impact investment funds post Ghana\u2019s Domestic Debt Exchange Programme. Dr Lamptey noted that the DDEP had affected the ability of commercial banks to provide financial support to businesses due to some losses incurred. It has, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":41405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-41406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Commercial banks urged to establish impact investment fund post DDEP - Ghana<\/title>\n<meta name=\"description\" content=\"A private equity and international business consultant, Dr Richmond Odartey Lamptey, has urged commercial banks to es ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercial banks urged to establish impact investment fund post DDEP\" \/>\n<meta property=\"og:description\" content=\"A private equity and international business consultant, Dr Richmond Odartey Lamptey, has urged commercial banks to es ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-01T09:59:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-01T11:34:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/05\/postQueueImg_1682916109.74.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"398\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Commercial banks urged to establish impact investment fund post DDEP\",\"datePublished\":\"2023-05-01T09:59:23+00:00\",\"dateModified\":\"2023-05-01T11:34:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep\"},\"wordCount\":628,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/05\/postQueueImg_1682916109.74.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/commercial-banks-urged-to-establish-impact-investment-fund-post-ddep\",\"name\":\"Commercial banks urged to establish impact investment fund post DDEP - 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