Ghana International Bank (GHIB) celebrated its 65th Anniversary and First Deputy Governor-Bank of Ghana (BoG) Dr. Maxwell Opoku-Afari noted that the imperative and impetus which drove the founding fathers to open a bank in the heart of global financial centre London has proven to be a mark of deep foresight.
“When most commercial banks lost their corresponding banking relationship in Ghana during our recent turbulence, GHIB remained steadfast and maintained a critical trade bridge that assured access to global trade,” the First Deputy Governor-BoG indicated.
Dr. Opoku-Afari highlighted the significant trade finance gap in Africa, and said bridging this gap could transform many African economies and GHIB stands ready to close that gap.
“It has been estimated that there is a persistently high trade financing gap of about US$90billion annually across markets in sub-Saharan Africa. We believe that closing this gap could generate an additional US$180billion in growth annually.
“This will represent approximately 10 percent more annual growth in GDP in the sub-Sahara African region. As the leading provider of credit to West Africa’s economy, GHIB is positioned to support importers and exporters in accelerating closure of the region’s persistently high trade finance gap.”
Ghana International Bank (GHIB) was incorporated in the United Kingdom with a unique mandate to support the economies of Ghana and the wider African continent. We are a dynamic pan-African bank supporting a dynamic continent.
GHIB focuses on six key areas: Treasury and global markets, trade finance, corporate and institutional banking, retail and small business banking, correspondent banking, and payment solutions.
As one of the pioneering pan-African financial institutions in the City of London, GHIB is uniquely positioned. It is noteworthy that management wants to scale up the bank and strategically extend its operations to East and Central Africa.
As the global economy is gradually recovering from effects of two successive shocks disrupting growth – raising the cost of living and inflation, GHIB has been instrumental in promoting trade and sustaining the West African and wider African economy.
