Editorial Summary: Ghana’s export ambitions just got a major boost as the Ghana Export-Import Bank (GEXIM) and the US Export-Import Bank (US EXIM) move to renew their $300 million cooperative agreement. This strategic alliance aims to provide Ghanaian small and medium-sized enterprises (SMEs) with access to US EXIM’s medium-term loan guarantees, facilitating the procurement of machinery and services essential for scaling up. As reported by Accra Street Journal, this renewed partnership underscores a shared commitment to strengthening trade ties and empowering Ghanaian businesses to compete on the global stage
Detailed News: As part of efforts to drive structural reforms and reset the economy, the Ghana Export-Import Bank (GEXIM) and the Export–Import Bank of the United States (US EXIM) have explored new areas of cooperation to deepen bilateral trade and investment ties.
At a recent meeting in Washington, D.C., the two institutions discussed the renewal of their 2019 Cooperative Framework Agreement, following the expiration of a Memorandum of Understanding (MoU).
The renewal is expected to happen swiftly to enable GEXIM access US EXIM’s medium-term loan guarantees. These guarantees would support Ghanaian Small and Medium-sized Enterprises (SMEs) in acquiring machinery and purchasing U.S. goods and services.
The Acting Chief Executive of GEXIM, Mr. Sylvester Mensah, met with Mr. James Cruse, Acting President of US EXIM, on the sidelines of the IMF/World Bank Spring Meetings.
Mr. Mensah reaffirmed the government‘s commitment to enhancing trade and investment partnerships globally, positioning GEXIM as a key player in Ghana’s transition to an export-led economy.
He shared the government’s strategic vision for the bank, emphasizing its role in providing vital investment support to Ghanaian businesses.
Mr. Mensah also expressed appreciation for US EXIM’s ongoing collaboration and reiterated GEXIM’s readiness to explore mutually beneficial opportunities.
Mr. Cruse welcomed the renewed engagement, expressing US EXIM’s strong interest in strengthening its relationship with GEXIM.
However, the two sides are expected to continue discussions at the 2025 US EXIM Annual Conference in Washington, D.C.
Also present at the meeting were Ms. Isabel Galdiz, Vice President for International Relations at US EXIM; Mr. Moses Klu Mensah, GEXIM’s Deputy CEO for Banking; and Mr. Jonathan Christopher Koney, Head of International Cooperation.
Last Updated on May 1, 2025 by samboad
