The Governor of the Bank of Ghana, Dr. Ernest Addison, has underscored the need for banks to remain committed to their critical role of bridging trade financing in both the primary and secondary markets.
According to the governor, this will help strengthen the country’s financial systems.
Speaking at the Ghana International Bank cocktail event to launch the 65th anniversary of the Ghana International Bank, Dr. Addison lauded the bank for leaving footprints in the financial landscape as an international bank.
“Having a dedicated international bank will enhance financial connectivity and access to global clearing markets while developing expertise in supporting the nation’s trade finance requirements.”
Dr. Addison added that “in 2023 for instance, GHIB intermediated over $8 billion in payments to financial institutions in West Africa.”
For his part, the Chief Executive Officer of the Ghana International Bank, Dean Adansi, emphasized the importance of learning from the 65 years of the bank’s operations, which transcend beyond Africa and Europe.
“The readouts from our annual general meeting today note that our bank is in the black, we are systemically significant across the continent, we uphold the highest standards of risk management and operational excellence and we are recognized as the Pan African Trade Bank,” he said.
He also added that GHIB would commit more assistance to the achievement of the African Continental Free Trade Agreement.
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The post BoG governor charges banks to bridge trade finance as he lauds GHIB appeared first on Citinewsroom - Comprehensive News in Ghana.
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