Managers of the Ghana International Bank have disclosed that the bank will soon commence operations in East African countries such as Rwanda, Tanzania, and Zambia to help improve Ghana’s trade finance.
According to the managers, the bank currently holds an asset of 400 million British pounds on the African continent.
Speaking to Citi Business News at the sidelines of an International Trade Finance Programme, the Executive Director of the bank, Mark Arthur stated that the primary aim of the bank is to deepen financial relationship with other countries to help improve Ghana’s trade budget.
“In Eastern Africa we are focusing on Kenya and certain African neighbors like Rwanda, Tanzania, Zambia and so on. This is relatively new markets that we are entering,” he said.
He stated that the bank is still developing and deepening relationships with other African countries to promote trade.
He pointed that, in Nigeria the bank decided to operate in the secondary market to maximize its output.
Touching on the four-day programme organized by the bank, Mr. Arthur stated that about 40 bankers and senior business executives will attend this year’s programme, which is the sixth.
“We are excited about the next four days, we will cover the full range of trade finance products, recent issues in international trade finance, risk assessment, money laundering and fraud as well as practical problem solving,” he said.
Presenting his opening remarks, an Advisor to the Governor of the central bank Mr. Franklin Belnye said “banks play a key role in international trade by providing the finance which is vital to the process”.
He stated that banks have to understand the customs and practices involved to make financial transactions effective.
“We at the Bank of Ghana are committed to promoting for the discussion and communication of issues affecting the banking community in particular, and the economy as a whole,” he said.
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By: Lawrence Segbefia/citibusinessnews.com/Ghana