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Ghana Exim Bank ‘Tuesday Market’ relaunched

Ghana Exim Bank’s (GEXIM) Made-In-Ghana fair dubbed “Tuesday Market” has been relaunched to provide a platform for its clients and producers of Made-In-Ghana products to showcase their goods.

It has for the past served as a one stop shop for the general public to purchase locally manufactured products ranging from nicely packaged food items, cosmetic products, garments and textiles, leather products and many more until COVID-19 struck two years.

Lawrence Agyinsam (second right) engaging with some of the exhibitors

The programme held at the forecourt of the World Trade Centre in Accra on Tuesday, April 26,2022 brought together top hierarchy of the bank, government officials, manufacturers and clients.

Speaking at the event, the Minister of Information, Mr.Kojo Oppong Nkrumah said, this initiative would assist Ghanaian businesses shore up their competencies to meet the demands of their clients.

Kofi Kinaata and Ms. Rosemary Beryl Archer , Deputy CEO – Banking (GEXIM) and some staff enggaging an exhibitor

He congratulated Ghana EXIM Bank on their foresight, as well as the exhibitors for the level of quality products, adding that “when more attention is paid to it, there is good value chain effect from farm gate, processing and even export to bring about foreign exchange, job creation, among others.”

The Deputy Minister of Trade and Industry, Nana Ama Dokua Asiamah-Adjei who was impressed with the level of quality products exhibited by local manufacturers called on Ghanaians to actively participate and give them the necessary support.

The Chief Executive Officer of GEXIM, Mr.Lawrence Agyinsam also said that as a development bank championing the transformation of Ghana’s economy into an export driven one, it was important to explore innovative ways to showcase Ghanaian businesses and create avenues for revenue generation for these businesses.

According to him, the Tuesday Market which witnessed an exhibition of Made-In-Ghana products of over 60 businesses was a way to promote the products of the Small and MediumEnterprises (SMEs).

By Edem Mensah-Tsotorme

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GEXIM deepens relations with US EXIM Bank

A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.

The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.

The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.

Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).

Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.

The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.

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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama

President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.

Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.

He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.

“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.

President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.

He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.

He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.

“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.

Source: Myjoyonline.com