NPP lauds EXIM Bank’s support for local companies

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(2nd left) Lawrence Agyinsam, EXIM Bank CEO, Justin Frimpong Kodua, NPP General Secretary (2nd right)

The General Secretary of the governing New Patriotic Party (NPP), Justin Frimpong Kodua, has lauded the efforts of the Chief Executive Officer of the Ghana Export Import (EXIM) Bank, Lawrence Agyinsam, towards supporting indigenous production companies in reducing Ghana’s import bill.

He said it is through the interventions of Ghana EXIM Bank that SMEs are meeting and increasing the necessary requirements for the internal market and scaling up operations.

That, Mr Frimpong indicated, will go a long way to improve the country’s export competitiveness, foreign exchange earnings and balance of trade.

“The bank, which is strategically positioned, is undeniably providing cutting–edge financial support, advisory and capacity building programmes aimed at eliminating barriers to springboard the nation’s economy into an export–driven one. It is creating an enabling environment to enhance the production of local producers to manufacture Made-in-Ghana products to facilitate development in the country,” he stated.

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The NPP General Secretary gave the commendation when the Ghana EXIM Bank CEO paid a working visit to the staff and executive of the NPP at the party’s headquarters.

The visit was aimed at cementing the cohesion between his outfit and the party functionaries. Other executive spresent were the Director of Finance and Administration, William Yamoah, and Director of Research/Elections, Evans Nimako.

Commending the CEO for his move, he called on all other government appointees to continuously engage party leadership and other stakeholders to build a united front for the 2024 general elections.

He urged the CEO and her outfit to intensify public sensitisation on the roles and functions of Ghana EXIM Bank. This, he said, will help the citizenry better appreciate the strides being made in Ghana’s quest for feasible and sustainable export led economy.

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Interventions

Responding, Mr. Agyinsam appreciated the NPP General Secretary for the warm reception, and pointed out some of the interventions made by his outfit. He said the Ghana EXIM Bank had since 2017 been the principal financial institution driving the export of Ghanaian made products.

He noted that the export of manufactured goods from Ghana to other parts of the world remains central to the Ghana Beyond Aid agenda, hence government’s decision to support Ghanaian exporting companies and enterprises through his outfit.

Mr. Agyinsam further stated that his outfit had injected almost GH₵ 1.2 billion in support of the One District, One Factory initiative, disclosing that “nearly fifty percent of the One District One Factory initiatives are being financed by the EXIM Bank”.

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He also emphasised that his outfit had not been discriminatory in supporting various developmental initiatives as it has footprints in almost all 16 regions. He reaffirmed his commitment to helping to do more to achieve President Akufo-Addo’s vision of a Ghana Beyond Aid.

Mr Agyinsam pointed out that nine indigenous pharmaceutical companies had received various funding supports from the EXIM Bank, in tandem with government’s vision to increase the local production of some basic medical supplies.

He also revealed that several shea butter processing companies, poultry farmers and nearly 200 greenhouse agricultural outfits had been supported by the EXIM Bank.

 

 

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