The Government of Ghana through the Ministry of Finance (MoF) has collaborated with the African Development Bank, European Investment Bank, KfW, World Bank, and other institutions to set up the Development Bank Ghana (DBG). DBG is a wholesale bank with a structure that seeks to make it independent of political and bureaucratic interference while benefiting from the “promotional powers" of the state – a balancing effort that hitherto can been difficult to achieve.
In line with Ghana’s economic transformation agenda, the vision of DBG as set out by the key actors since 2015 is of a financial institution independent of the MOF that mobilizes medium- and long-term capital and channels it through the financial system to support private sector development.
Specifically, DBG’s Mandate is to help address market failures in the Ghanaian credit markets, thereby helping businesses invest in the long term and promote economic growth and job creation. Its mission encompasses five pillars and seeks economic impact, social impact and inclusive growth. The goal is to complement the national development agenda while the government focuses on public investment and social spending, DBG focuses on private sector and commercial projects. DBG is not designed to become a financing vehicle for government projects.
The publication is intended to document the vision and the processes that led to the establishment of DBG and its intended policy impact. It will also document the governance structure of the bank, including the safeguards in place to ensure the Banks’ independence, the board and appointment process, accountability mechanism, modes of interaction between the bank and its shareholder, etc. Additionally, the publication will review the history of development banking in Ghana and beyond, as well as lessons learned, and document how such history and lessons were taken into consideration in the establishment of the DBG.
The Consulting Services (“the Services”) include engaging a consultant to produce a policy-based publication/report (“the DBG Book) documenting the conceptualization, inception and establishment of DBG. It will include an evidence-based evaluation of past experiences with development banking in Ghana and lessons for the future of DBG.
The detailed Terms of Reference (TOR) for the assignment can be obtained from http://www.mofep.gov.gh, gdfp@mofep.gov.gh or the address below.
The Ministry of Finance (MoF) now invites eligible individual consultants (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the services by submitting the most current Curriculum Vitae (CV).
The Shortlisting Criteria are:
The Consultant should have the following experience and qualifications:
•Minimum of 15 years of experience in producing policy-based publications.
•Track record of successful research-based publication of policy-based reports on Development Banking, Development Finance, Banking Sector, Capital Markets/or related field.
•Minimum bachelor’s degree in English, development economics, or related fields.
•Proven record as lead author, researcher, and technical coordinator of publications/ journals/policy briefs/reports on development finance and related fields.
•Understanding of development finance, including institutions, instruments, models, etc.
•At least 10 years of editing and writing experience in socio-economic development.
The attention of interested Consultants is drawn to Section VII, paragraphs, 7.36 and 7.37 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2016 (“Procurement Regulations”), revised November 2017, August 2018 and November 2020.
A Consultant will be selected in accordance with Individual Selection method set out in the Procurement Regulations.
Further information can be obtained at the address below during office hours from 0900 hours to 1600 hours GMT or through gdfp@mofep.gov.gh
Expressions of Interest must be delivered in a written form to the address below (in person, by mail or by e-mail) by 1600 hours GMT on October 10, 2023 to the address below. Envelopes must be marked “EXPRESSION OF INTEREST FOR CONSULTING SERVICES FOR A PUBLICATION ON THE ESTABLISHMENT OF DEVELOPMENT BANK GHANA”
Address – For Submission of Expressions of Interest:
Ministry of Finance
28th February Road
Finance Drive
P.O. Box MB 40
Accra-Ghana
New Block, 1st Floor, Room 112
Attention: Project Coordinator
Ghana Development Finance Project (GDFP)
Financial Sector Division (FSD)
Telephone No. +233-20 8118111
Online submission: gdfp@mofep.gov.gh
