Government Seeks Bank Financing For Export SMEs

Elizabeth Ofosu-Adjare and Ian Greenstreet                  

 

The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has called on the Ghana International Bank (GHIB) to increase financing for export-ready businesses and small and medium-sized enterprises (SMEs) to accelerate the country’s export growth and industrialisation agenda.

The appeal was made during a meeting with the Chief Executive Officer (CEO) of Ghana International Bank, Ian Greenstreet, and his delegation, where the two sides discussed strengthening collaboration to expand the nation’s export sector and attract greater investment into key industries.

According to the Minister, access to finance remains critical for businesses seeking to compete in international markets, and she urged the bank to support export-oriented enterprises with the capital required to expand production and penetrate new markets.

Mrs. Ofosu-Adjare also encouraged GHIB to explore investment opportunities in the nation’s agro-processing sector, particularly in the cocoa, cashew and oil palm value chains, which the government considers strategic to its industrial transformation agenda.

She disclosed that the government intends to expand the Ekumfi Juice Factory as part of efforts to increase value addition to locally produced fruits, enhance industrial output and strengthen Ghana’s export presence in the United Kingdom market.

The Minister said expanding local processing capacity would not only create jobs but also improve the country’s competitiveness by exporting more value-added products instead of raw materials.

She described the discussions with the bank as productive and expressed optimism that stronger collaboration between the government and the financial institution would help unlock new opportunities for Ghanaian exporters and manufacturers.

Mrs. Ofosu-Adjare welcomed GHIB’s commitment to partnering with the government to promote exports, industrialisation and sustainable economic growth, noting that such partnerships are essential to achieving the country’s economic transformation objectives.

By Ernest Kofi Adu

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