DBG Unveils Major Revival Plan For Ghana’s Textile And Garment Industry
The Development Bank Ghana (DBG) has launched a bold initiative aimed at reviving the country’s struggling textile and garment industry, once a major employer that has seen its workforce shrink from 25,000 in the 1970s to just 6,000 by 2020.
Acting CEO Dr. Randolph Nsor-Ambala, speaking at a policy dialogue in Accra co-hosted with the Association of Ghana Industries (AGI), reaffirmed the bank’s commitment to reversing this decline through targeted financing, policy reforms, and strategic partnerships.
“This is a call to action, not a conclusion,” Nsor-Ambala emphasized, as the forum tackled longstanding industry challenges including unchecked smuggling, weak customs enforcement, and fragmented policy incentives.
DBG’s multi-pronged approach includes identifying five bankable textile projects in collaboration with financial institutions, conducting a comprehensive feasibility study to pinpoint value chain gaps, and evaluating technical assistance needs to build industry capacity. These insights will feed into a coordinated plan to deliver long-term financing alongside business support services.
AGI President Dr. Humphrey Kwesi Ayim Darke called on the government to implement stable export incentives, noting that private investors are willing to engage if the policy environment improves. Industry experts also flagged key growth areas such as expanding wax-print production in Tema and scaling Accra’s cut-and-sew sector to create jobs for young people.
In parallel, the Ghana Free Zones Authority is actively courting foreign investors, including Asian apparel firm Yintak Intex, signaling renewed institutional momentum to reposition Ghana in the global textile market.
The initiative marks a significant step toward restoring one of the nation’s most iconic industries, with DBG positioning itself at the forefront of Ghana’s industrial transformation.
