GEXIM seeks strategic partnerships to finance Ghanaian businesses

In line with President John Dramani Mahama’s agenda to position Ghanaian businesses as key drivers of economic growth, the Ghana Export–Import Bank (GEXIM) is pursuing strategic partnerships with development partners, development finance institutions, export credit agencies, and global investors to support local enterprises.

The Acting Chief Executive Officer of GEXIM, Sylvester Adinam Mensah, led a management delegation to engage with various financial institutions and funding agencies on the sidelines of the 2025 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG), held in Washington, D.C. from April 21st to 26th, 2025.

The GEXIM team held meetings with the leadership of the Export–Import Bank of the United States (US EXIM Bank), African Export–Import Bank (Afreximbank), Saudi Fund for Development (SFD), Kuwait Fund for Arab Economic Development (KFAED), International Trade Administration of the U.S. Department of Commerce, US Africa Trade Desk, and Cygnum Capital.

Hon. Sylvester Mensah stated that the engagements aimed to explore strategic collaborations to secure funding solutions that would empower Ghanaian businesses to enter new markets.

“We had the opportunity to share our strategic direction and immediate priorities in line with President Mahama’s resetting agenda, along with some of our bankable pipeline projects. I’m particularly excited about the prospects of our meetings, given the positive and encouraging feedback we received. I am confident we will secure funding to support Ghanaian businesses, enabling them to contribute meaningfully to national economic development,” he said.

He further emphasised the challenges faced by local businesses: “Currently, the high cost of local financing, coupled with short-term interest rates, is a major disincentive to local traders and hinders the expansion of many Ghanaian enterprises.”

Financing has long been a critical barrier to the growth of businesses in Ghana. A 2020 survey by the Ghana Enterprises Agency (GEA) found that 60% of Small and Medium-sized Enterprise (SME) owners identified limited access to funding, as well as inadequate skills in financial management and business planning, as key challenges to their success.