The Chief Executive Officer of the Ghana Export-Import Bank (GEXIM), Sylvester Adinam Mensah, has described the newly signed partnership between GEXIM and Ghana International Bank
The report indicates that the Chief Executive Officer of the Ghana Export-Import Bank (GEXIM), Sylvester Adinam Mensah, has described the newly signed partnership between GEXIM and Ghana International Bank PLC (GHIB) as a strategic step towards strengthening Ghana’s export sector, improving access to international banking services and driving sustainable economic growth.
It further notes that speaking to journalists shortly after the signing of a Memorandum of Understanding (MoU) between the two institutions in Accra on Wednesday, Mr Mensah stated the collaboration would deepen trade finance opportunities for Ghanaian businesses, particularly small and medium-sized enterprises (SMEs), while enhancing the country’s export competitiveness.
The agreement seeks to combine the strengths of both financial institutions to improve access to international banking services, trade finance, correspondent banking, market intelligence and export development support for Ghanaian exporters.
GEXIM, Ghana’s national export-import development bank established under the Ghana Export-Import Bank Act, 2016 (Act 911), plays a key role in supporting export-led industrialisation through financing, guarantees, trade facilitation and advisory services.
Its new partner, Ghana International Bank PLC (GHIB), is a United Kingdom-based international bank regulated by UK financial authorities and provides correspondent banking, trade finance, treasury, foreign exchange services, syndicated lending and commodity finance to clients across Africa and international markets.
According to Mr Mensah, the partnership goes beyond a conventional banking relationship and is designed to support Ghana’s broader economic transformation agenda.
“It’s more of an international bank, even though it operates locally. The whole idea is to facilitate export and import, and this is in a way that would facilitate economic growth,” he said.
He explained that the collaboration aligns with Ghana’s efforts to promote import substitution while expanding exports through value addition and agro-processing.
“The whole idea is to look at imports within the space of import substitution and also to look at export as a way of agri-processing, generating foreign exchange and having our products out there while creating jobs,” he added.
Mr Mensah noted that one of the key objectives of the agreement is to strengthen GEXIM’s access to global banking services through an enhanced correspondent banking relationship with GHIB.
He stated the partnership would also open opportunities for syndicated financing, enabling larger transactions that would otherwise be difficult for a single institution to undertake.
“We are looking forward to this collaboration with Ghana International Bank as a way of having syndicated finance opportunities. But importantly, we are looking at global banking services through a correspondent banking relationship with Ghana International Bank,” he stated.
Although GEXIM already maintains correspondent banking relationships with several financial institutions, Mr Mensah emphasised the importance of leveraging a bank with strong Ghanaian roots and a deep understanding of the country’s business environment.
“We have correspondent banking relationships with other banks. It’s important that we look inward, look into what we have as Ghana and leverage the relationship, culture and understanding as a way of facilitating and enhancing business growth.”
