President Akufo-Addo says he is counting on the Development Bank of Ghana (DBG) to make long-term credit available to the private sector.

The Bank which was formally launched on June 14, 2022, is geared toward spearheading the vision of a Ghana Beyond Aid.

It also seeks to position the private sector to take the lead in our country’s socio-economic transformation and create quality jobs for the youth.

Seen as the engine of growth, the non-availability of adequate financing for the private sector continues to hamper its potential.

But speaking at a roundtable meeting with chief executives of private enterprises on Monday, the President said government is working to address challenges facing the private sector.

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"The concept of the bank, which is now here, I believe will truly serve as a catalytic for the growth of the private sector," he said.

Some ministers of state including, Trade and Industry’s Alan Kyeremanten, are attending the meeting.

Conspicuously missing at the event was the Finance Minister, Ken Ofori-Atta.

However, Chief Executive of the Ghana Investment Promotion Centre (GIPC), Yoofi Grant explained that the Minister was in a meeting with the Central Bank Governor deliberating over the recent move to engage the International Monetary Fund (IMF) for economic assistance.

"He is in a conference with the Central Bank Governor who originally was also supposed to be here but the events of the week have taken them away," he said.