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Western Regional minister commends GEXIM for ‘Western Weekend Market’
The Western Regional Minister and Member of Parliament (MP) for Takoradi, Kwabena Okyere Darko – Mensah has commended the Board and Management of the Ghana Export – Import Bank (GEXIM) for organising a special edition of its popular Small and Medium Enterprises (SME) Fair dubbed, Tuesday Market, in the Western Region.
Dubbed the “Western Weekend Market”, the fair took place at the Takoradi Mall, from Friday May 17 to Sunday May 19, 2024 at the Takoradi Mall, between 8am and 10pm daily.
The fair provided a platform for Ghanaian entrepreneurs across the Western and neighbouring regions to showcase their various top-quality and uniquely packaged Made-in-Ghana products.
Mr.Kwabena Okyere Darko – Mensah participated in the fair on Saturday May 18, 2024.
Supported by the Deputy Chief Executive Officer of GEXIM, responsible for Banking, Ms. Rosemary Beryl Archer, the Minister inspected the Made-In-Ghana products being exhibited and took time to engage the vendors to get an insight into their business operations and products.
Speaking to the media after the event, Mr.Darko – Mensah congratulated GEXIM for the initiative to support SMEs to scale up and harness their export potential.
Very impressed with the unique and amazing products being exhibited, the Minister urged the Bank to continue organizing more fairs in the region to benefit the growing entrepreneurs in the Western region.
“It is exciting and refreshing to be seeing these uniquely packaged products here today and most importantly, knowing there were products by Ghanaians and most of them produced in the Western region. I am very impressed with the work that has gone into organizing this amazing fair and I wish to commend the Ghana Export – Import Bank for this great initiative in addition to all the great things the Bank is doing for and with Ghanaian entrepreneurs across the country,” he said.
I must say it is the way to go as it contributes towards economic development and the creation of jobs for Ghanaians. With this initiative and others, we are on our way to achieving the Government of Ghana’s industrialization agenda. We will urge GEXIM to continue with the fair in the Western region and the SME Clinic to help build the capacity of SMEs in the region and beyond”, he stated.
On her part, Ms. Rosemary Beryl Archer expressed the Bank’s appreciation to the Minister and all stakeholders who made the “Western Weekend Market” a success.
She further highlighted the significance of developing the Ghanaian SME sector and the important contribution entrepreneurs can make to economic development when they are empowered and supported to become more efficient.
She noted that “I am happy we have all these SMEs here today and they are being promoted both locally and internationally to be patronized. We cannot belittle the crucial role of SMEs in the national development agenda, witnessing the sector’s important contribution to the economic transformation of several countries globally, where it accounts for over 50% of private output.“
“We have had some great feedback from the vendors which indicates how the fair has broadened their knowledge base from engagement with their colleagues from other regions. We are looking at sending some of the SMEs from the Western Region to our SME fairs in other regions to get them aligned with what their colleagues in other regions are doing,” she added.
On the sidelines of the “Western Weekend Market”, the Bank organized a training programme for the SMEs, dubbed “SME Clinic”, on Saturday May 18, 2024 also at the Takoradi Mall. The “Western SME Clinic” is aimed at building the capacity of entrepreneurs, exploring solutions to challenges faced by Ghanaian businesses as well as identifying pragmatic approaches to assist SMEs to scale up and become more efficient in their operations.
Under the theme “Growing Your Business And Export Financing”, the participants were taken through important elements of business development and growth as well as the export value chain. They were further enlightened on the concept of governance, risk and compliance in business management.
Nana Ekua Kodu II, the queen mother of the Esikado Traditional Area and multiple award winning Ghanaian musician, Kofi Kinaata were part of the dignitaries that participated in the “Western Weekend Market.”
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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
