The Chief Executive Officer (CEO) of the U.S. International Development Financing Corporation (DFC), Scott Nathan, embarked on a trip to Accra, Ghana, to engage with potential private sector partners and explore collaborative opportunities aimed at fostering economic development in Ghana.
During his visit, he also held discussions with existing clients to address their challenges related to government payments and to identify fresh prospects for collaboration.
Nathan further met with Ghanaian government officials to explore ways in which DFC financing can facilitate private sector-driven growth in various sectors, including energy, agribusiness, digital infrastructure, and small business support.
CEO Nathan, alongside U.S. Ambassador to Ghana Virginia Palmer, reaffirmed their commitment to enhancing information and communications technology (ICT) infrastructure in Ghana by joining African Data Centres (ADC) leaders. ADC is currently working on the construction of a groundbreaking data centre in Ghana.
DFC had previously announced a substantial commitment of up to $300 million to ADC in December 2020 to bolster the establishment, expansion, and operation of data centers in South Africa, Kenya, and other DFC-eligible nations.
This initiative by DFC aims to facilitate the creation of secure and reliable information technology networks to promote development and economic growth across Africa.
CEO Nathan also collaborated with Kwame Owusu-Boateng, the CEO of Opportunity International Savings and Loans, to formalize a $2.5 million loan portfolio guarantee.
This guarantee is intended to support lending to micro, small, and medium enterprises (MSMEs) as well as farmers in northern Ghana. Furthermore, CEO Nathan solidified DFC’s backing of Absa Bank Ghana during a ceremony with Grace Anim Yeboah, Director of Business Banking at Absa Bank Ghana.
DFC’s $10 million loan portfolio guarantee will enable Absa Bank Ghana to extend its lending services to small and medium enterprises (SMEs) operating in the agriculture sector in northern Ghana.
Both transactions are poised to unlock much-needed working capital for small businesses and farmers in the northern region, where poverty and malnutrition rates are comparatively higher.
CEO Nathan and Ambassador Palmer held discussions with Vice President Mahamudu Bawumia to delve into DFC’s ongoing work in Ghana and to explore fresh avenues for supporting the private sector’s role in bolstering Ghana’s economic growth.
While in Accra, CEO Nathan paid a visit to LuccaHealth Medical Specialty Center Ghana, a client of DFC.
LuccaHealth is dedicated to providing high-quality healthcare services to patients in Ghana.
DFC had previously granted LuccaHealth a $7.5 million loan to fund the construction of an ambulatory surgical center. LuccaHealth specializes in minimally invasive outpatient procedures, same-day surgical interventions, and modern diagnostic services.
