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Ecobank Ghana holds forum to foster exports growth under AfCFTA

In a bid to support Ghanaian exporters to build and expand their operations across the African continent and the world, Ecobank Ghana has organised a forum to provide information about requirements and the changing trends in the export market.

The Forum, which is a collaboration between Ecobank and the Ghana Export Promotion Authority, discussed ways to improve and provide further support to promote export business in the country.

Mrs Abena Osei-Poku, Regional Executive, Anglophone West Africa and Managing Director Ecobank Ghana, underscored the importance of exports to the Ghanaian economy, underlying the bank’s decision to provide the needed assistance to businesses in the sector to thrive.

The export sector supports many Ghanaian households and sustains livelihoods through job creation across various sectors of the economy, while foreign currency proceeds from export businesses also remain critical for the country’s trade balance and balance of payment positions.

Despite the immense potential of the s
ector, Ghanaian exporters, within the traditional and non-traditional sectors, had over the years faced various challenges, including limited access to finance, which then affects their ability to scale and increase production capacity, inadequate collateral, stringent international trade restrictions, limited access to innovative technology, among others.

Notwithstanding these challenges, the export businesses in Ghana continue to work with determination and perseverance to make positive impact on the national economy.

Ghana ended 2022 with some USD20billion in export revenue, mainly to the United Arab Emirates, Switzerland, United States, India, and China. Conspicuously missing from this list of the main export destinations is export within the continent of Africa.

‘Our goal is to provide solutions, which will enhance and enable scalability of export businesses and equip you to take advantage of the numerous opportunities out there. As collaborators, we ought to be ready to meet increasing demands by bui
lding capacity to position our export industry, so they can compete favourably in the global marketplace,’ she stated.

Mrs Osei-Poku said the Africa Continental Free Trade Area (AfCFTA) presented huge opportunities for Ghanaian exporters, adding Ecobank Ghana was strategically positioned with an array of products and services which are, convenient, reliable, and accessible to support exporters across the continent.

‘Our aim is to dialogue with you to enable us better understand your true needs and expectations, so we can serve you better. Let us use this platform to build mutually beneficial business relationships, and also to support the national economy,’ she said.

Mrs Osei-Poku encouraged the exporters sign onto the Ecobank Single Market Trade Hub, a single platform, which can connect them with other businesses in one big African market with some 1.4 billion people.

Mr. Abdallah Z. Khalifa Banda – Head of Trade in Services Export, Manufactures and Petrochemicals Department of the Ghana Export Promoti
on Authority (GEPA) explained to exporters some of the new requirements from overseas markets.

Source: Ghana News Agency