News
Ghana Exim Bank deepens relations with India Exim Bank
The Deputy Chief Executive Officer of the Ghana Export–Import Bank (GEXIM), responsible for Finance and Administration, Mrs. Nana Akyaa Obeng-Adiyiah, on behalf of the Chief Executive Officer, Mr. Lawrence Agyinsam, has met with Management of the India Export–Import Bank (India EXIM) led by the Managing Director, Ms. Harsha Bhupendra Bangari.
The meeting took place on Wednesday June 14, 2023 on the sidelines of the 18th CII – EXIM Bank Conclave on India Africa Growth Partnership held at the Taj Palace in New Delhi, India, from 14th to 16th June 2023.
Over 200 International and Indian delegates across export agencies, multilateral institutions, private credit insurers, governments, diplomats, and many more attended the 18th CII – EXIM Bank Conclave.
The meeting was to deepen the existing cordial relationship between the two Banks, provide an opportunity for the two institutions to identify ways of building synergy, and possible collaboration in existing as well as new areas of interest for mutual benefit in addition to sharing insights on their respective operational processes.
Ms. Bangari expressed her excitement about the gains Ghana has made over the years through initiatives by GEXIM and further indicated India EXIM Bank’s interest in collaborating with GEXIM and the Government of Ghana to play a strategic role to develop several industries across the country in line with Ghana’s industrialization agenda.
“We have been monitoring the situation in Ghana and the negotiations with the International Monetary Fund (IMF) since last year. We are hopeful Ghana will come out of its current economic challenges stronger and its economy will bounce back.
As indicated, we are keenly interested in partnering with Ghana Exim Bank and the Government of Ghana in the One District One Factory initiative which is similar to one of the India EXIM Bank’s developmental projects dubbed, One District, One Product”, she added.
On her part, Mrs. Obeng-Adiyiah reiterated GEXIM’s mandate in championing the transformation of Ghana’s economy into an export-led one and the elimination of critical market failures in the Ghanaian economy to make Ghana competitive in the global marketplace.
“We are grateful to the Management of India EXIM Bank, especially the Managing Director, Ms. Bangari, for making time to host us, it shows the importance you attach to the relationship between us. We are excited about the great engagement today and very optimistic about the positive outcomes to help in stabilizing the Ghanaian economy. We look forward to the collaboration with India EXIM Bank on the One District One Factory flagship programme of the Ghanaian Government and resumption of the exchange programme between the two Banks to build the capacity of staff members,”she emphasized.
Other members of the GEXIM team at the meeting were Mr. Emmanuel Kofi Atubra, Senior Manager, Procurement, and Mr. Jonathan Christopher Koney, Assistant Manager, Corporate Affairs & International Cooperation.
The Diaspora Affairs Office at the Office of the President has hosted a delegation of African diaspora women who are in Ghana ahead of a planned Presidential Conferment of Citizenship ceremony.
The Director of Diaspora Affairs, Kofi Okyere Darko, explained in a Facebook post that the visit was a gesture of appreciation by the delegation to the Government of Ghana for its continued efforts to reconnect Africans in the diaspora with their ancestral homeland.
He indicated that the ceremony, scheduled for next Monday, will officially grant Ghanaian citizenship to members of the delegation as part of the country’s broader engagement with the African diaspora.
The delegation was led by Erica Bennett, Founder of the Diaspora Africa Forum.
According to Mr Okyere Darko, her years of advocacy have played an important role in strengthening ties between Africa and people of African descent living abroad.
He noted that the group’s journey towards citizenship represents not only a legal process but also a cultural and spiritual return to their roots.
Also present at the meeting was Natalie Jackson, an attorney who is also expected to receive Ghanaian citizenship during the ceremony. She works closely with renowned civil rights lawyer Ben Crump.
Mr Okyere Darko emphasised that Ghana remains committed to strengthening relationships with the African diaspora and promoting unity, identity, and shared heritage among people of African descent worldwide.
By: Jacob Aggrey
Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of efforts to restore the country’s economic stability after the financial crisis that hit the nation in 2022 and 2023.
The Minister of Finance, Cassiel Ato Forson, today disclosed that he signed the agreement on behalf of the Government of Ghana.
He explained that Ghana experienced a very difficult period during the crisis, which forced the government at the time to declare a debt default.
However, he indicated that the country is now recovering and witnessing a significant economic turnaround.
According to him, stronger systems are also being put in place to ensure that Ghana does not return to such a situation again.
Dr Forson noted that the agreement with Belgium is the eighth deal Ghana has concluded with countries under the Official Creditor Committee as part of its external debt restructuring programme.
He expressed appreciation to the Government of Belgium for its support and partnership with Ghana during the process.
The Finance Minister thanked Carole van Eyll, Ambassador of Belgium to Ghana, for her role in strengthening relations between the two countries.
The agreement forms part of Ghana’s broader effort to restructure its external debts and stabilise the economy following the crisis.
By: Jacob Aggrey
