The Ghana Export-Import Bank (GEXIM) has organised its maiden fair to showcase its support to local businesses that are engaged in manufacturing for export as well imports.
The exhibition was attended by businesses that displayed some of their products which they have been able to manufacture with the support of Exim Bank Ghana.
Speaking in an interview with the B&FT, Richard Anane, Head of Corporate Affairs and Marketing-Exim Bank Ghana, urged manufacturers to take advantage of opportunities offered by the bank to expand their businesses.
Mr. Anane said the bank is strategically empowering the private sector through various support programmes to help make businesses more competitive and capable of contributing to realisation of the ‘Ghana Beyond Aid’ agenda.
According to him, as a development bank with focus on export-led financing, the bank has since its establishment in 2016 supported investors and companies in selected areas of the economy with low cost funds to retool, improve operational efficiencies and produce exportable goods.
The bank’s strategy, he said, focuses on developing specific sectors such as garments and apparel manufacturing, raw materials base development for avocado, cashew, oil palm and cassava etc.
In choosing which enterprises to support, the CEO explained that the bank considers three key metrics: namely Employment creation, value addition through production efficiency, and foreign potential.
The Deputy Chief Executive Officer, Mrs. Nana Ama Opoku, explained that Exim Bank put the fair together to highlight the support given to local businesses.
She said most of the products exhibited are made in Ghana and are of good quality for export, and some are available on the Ghanaian market.
“As the export credit Agency of government, Exim Bank is the main financial driver behind government’s flagship programme One District, One Factory – which initiative seeks to accelerate Ghana’s industrialisation,” she said.
Some of the manufacturers who spoke to the B&FT said Exim Bank has helped expand their businesses from the local market to the international market.