Finance Minister, Seth Terkper has intensified lobbying for private sector businesses to enroll onto the Ghana Export and Import [Exim] bank and promote the country\u2019s exports market.<\/p>\n
[contextly_sidebar id=”dZUrZq8YCyFpfZS5dsfqZ8dxLT8MKduw”]\u201cI would want to entreat the private sector to partner with government in these institutions, it is true that the State Owned Enterprises will benefit but I think we can be part of changing all these institutions for investment and trade,\u201d the Minister appealed.<\/p>\n
Citing the growth witnessed by the country\u2019s cocoa sector with the Ghana COCOBOD adopting strategies to attract investments for the purchase of cocoa beans since 1994, Seth Terkper was hopeful of the prospects of Ghana\u2019s exports with a boost in patronage of the Exim bank targeted at exports.<\/p>\n
\u201cWe can learn from this model [adopted by the COCOBOD] and from Exim bank practices elsewhere; escrow the export earnings for our private sector who are exporters and through the process, bundle all these earnings together and borrow from the international market at competitive rates.\u201d<\/p>\n
Meanwhile the Finance Minister has announced plans by government to re-strategize the Exim bank to enable exporters accrue enough funds and borrow from the international market for expansion.<\/p>\n
The Ghana EXIM bank is mandated to support and develop direct and indirect trade between Ghana and other countries by building the capacity and competitiveness of Ghanaian importers and exporters.<\/p>\n
The bank would also bridge the imbalances that had over the years, been registered in the trade and infrastructural development.<\/p>\n
Reiterating the need for private sector participation, Seth Terkper maintained the move will leverage Ghana\u2019s quest to become a middle income country.<\/p>\n
\u201cAs we become a middle income country I think we need to also develop these schemes,\u201d he further remarked.<\/p>\n
The aim of\u00a0establishing the Ghana Exim Bank is to create an institution that consolidates past efforts and becomes the key engine for developing Ghana\u2019s exports sector.<\/p>\n
The bank, which is to be a non-deposit-taking institution, will assist exporters to compete internationally by providing insurance and financial facilities in support of their activities.<\/p>\n
–<\/p>\n
By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance Minister, Seth Terkper has intensified lobbying for private sector businesses to enroll onto the Ghana Export and Import [Exim] bank and promote the country\u2019s exports market. [contextly_sidebar id=”dZUrZq8YCyFpfZS5dsfqZ8dxLT8MKduw”]\u201cI would want to entreat the private sector to partner with government in these institutions, it is true that the State Owned Enterprises will benefit but I […]<\/p>\n","protected":false},"author":14,"featured_media":240232,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11],"tags":[],"yoast_head":"\n