Global Partnerships to Boost Ghanaian Businesses – GEXIM

By Praisebell Rosemond Larbi.

In a move aligned with President John Dramani Mahama’s renewed agenda to reposition Ghana’s economy, the Ghana Export–Import Bank (GEXIM) is seeking strategic partnerships with international development partners, finance institutions, and export credit agencies to bolster support for Ghanaian businesses.

The bank’s initiative, aimed at addressing persistent financing challenges facing local enterprises, was brought to the global stage during the 2025 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG), held from April 21 to 26 in Washington, D.C. The meetings drew policymakers, financiers, and industry leaders from across the world, providing an opportune platform for Ghana to present its business development strategy.

Led by the Acting Chief Executive Officer, Mr. Sylvester Adinam Mensah, the GEXIM delegation held high-level engagements with key institutions including the Export–Import Bank of the United States (US EXIM Bank), African Export–Import Bank (Afreximbank), Saudi Fund for Development (SFD), Kuwait Fund for Arab Economic Development (KFAED), International Trade Administration of the U.S. Department of Commerce, US-Africa Trade Desk, and Cygnum Capital.

According to Mr. Mensah, the discussions were productive and forward-looking, with a clear focus on developing long-term financial support systems for Ghanaian businesses. “Our engagements were guided by President Mahama’s broader economic vision of resetting Ghana’s economy, with a deliberate emphasis on supporting local businesses to scale up and tap into new markets,” he said.

He noted that the team used the opportunity to share GEXIM’s strategic priorities and pitch several bankable projects that could benefit from international investment. “I am particularly optimistic about the encouraging feedback we’ve received so far. There is strong interest from global financiers in supporting Ghana’s business sector. We are confident that these partnerships will translate into tangible funding commitments for our private sector,” Mensah added.

He underscored the urgency of securing affordable, long-term capital, citing the prohibitively high cost of local financing in Ghana. “Currently, short-term interest rates are a major disincentive to local entrepreneurs. Many Ghanaian businesses, especially SMEs, are unable to expand or compete globally due to financial constraints,” he noted.

Financing has long been a structural barrier to business growth in Ghana. A 2020 survey conducted by the Ghana Enterprises Agency (GEA) revealed that 60% of Small and Medium-sized Enterprises (SMEs) identified lack of access to affordable credit, along with limited financial literacy and weak business planning, as the primary challenges affecting their operations.

GEXIM’s move to forge global partnerships is therefore seen as a critical step toward bridging this gap. By unlocking more affordable and sustained financing sources, the bank hopes to empower Ghanaian enterprises to not only survive but thrive in both domestic and international markets. The strategy aligns with President Mahama’s broader economic transformation plan, which emphasizes local industry development, export promotion, and inclusive growth. Observers believe that GEXIM’s proactive engagement at the global level could mark a turning point in Ghana’s push to reposition its private sector as a key engine of economic growth.