Finance Minister Dr. Cassiel Ato Forson has confirmed that the Deloitte audit report on Development Bank Ghana (DBG) will be handed over to the Attorney General for possible legal action, in what he described as a decisive step in restoring integrity at the state-backed lender.
The move follows consultations with key development partners, including the World Bank, African Development Bank, Germany’s KfW, and the European Investment Bank. These institutions have backed the government’s position that accountability at DBG is “non-negotiable.”
Dr. Forson emphasized that individuals found culpable will face consequences, adding: “a new dawn is beginning for DBG,” but stressed that swift reforms are critical to rebuild the Bank’s credibility.
Concerns about governance at DBG have persisted since last year, when the World Bank acknowledged it was reviewing allegations of financial mismanagement at the institution. The claims, amplified by Bright Simons of IMANI Africa, alleged that more than GH¢400 million had been lost through improper contracting.
DBG has consistently denied the allegations, insisting that no development partner funds had been misapplied.
With Deloitte’s findings now complete, government says it is moving quickly to reposition DBG. A new Chief Executive Officer, selected through a competitive process, will be announced on Monday, while a reconstituted Board is expected by the end of October.
Interim Board Chair Albert Essien has pledged transparency and prudent governance — a commitment that has been welcomed by development partners as Ghana seeks to realign DBG with its mandate of financing the country’s economic transformation.
