There’s a plot to “loot” Ghana’s top development bank, say insiders

A trove of evidence of shady dealings

I recently wrote a piece on a fierce battle raging inside Ghana’s leading development finance institution (DFI), Development Bank Ghana (DBG), pitting various risk, audit, and compliance officers against senior management, as the board seemingly looks on helpless. Two independent directors have already jumped ship due to sheer frustration.

The insights in my essay came from a thorough analysis of a trove of evidence made available by a group of insiders and whistleblowers whose efforts to push for governance reforms internally have been rebuffed or ignored. The evidence spans critical remits across the bank, from general counsel and risk management to treasury and internal audit.