GEXIM Bank Funds 84 Projects

The Ghana Export-Import (GEXIM) Bank has indicated that all 84 projects it is funding are progressing steadily.

Lawrence Agyensaim, CEO of GEXIM Bank, who disclosed this on Friday at a media encounter with executives of the Private Newspapers Association of Ghana (PRINPAG), said his organization’s objective was to massively promote the country’s private sector towards greater efficiency.

“Because we have been exporting raw materials as a country, government now wants us to branch into financing non-traditional exports (NTEs) for Ghana to become an export-led economy,” Mr Agyinsaim stated.

According to him, that also formed part of a five-year strategy put in place by his outfit to meet global standards, adding that over the period, it is expected to register five billion dollars earnings from exports.

He also spelt out some 10 key focal areas that GEXIM was investing into to build a robust export sector for Ghana. These included the poultry, pharmaceuticals, cassava, shea butter, garments, pineapples, mangoes, creative arts and palm oil.

He said each of these 10 areas required at least US$50 million to be able to achieve its set objectives.

In pursuit of these and other objectives, the GEMXIM Bank CEO said his outfit signed a US$100 million facility in the UK in January this year.

A few of the 84 projects being pursued by GEXIM Bank include Ekumfi Fruit Juices Ltd, Juaben Oil Mills, Atlantics Lifesciences Ltd at Ningo, Dannex Ltd in Greater Accra, Asikess Ventures Ltd at Begoro, Wontumi Farms at Ashanti Mampong, Casa de Ropa at Bewadze, Ernest Chemists at Klagon, near Accra, Akwapem Gold Agro-processing, Caltech Ventures and Rhovanni Royal Ltd.

He added that most loans that GEXIM Bank gave were long term with a moratorium.

Commenting on some opportunities that the novel coronavirus pandemic has brought in its wake, he said that had taught Ghana to be self-reliant and become emboldened to venture into areas that hitherto were not given consideration by business leaders.

Mr Agyensaim said GEXIM Bank looked to big ticket transactions in future especially when the Covid-19 pandemic subsided.