The Management of Ghana Exim Bank (GEXIM) have completed a 4-day Strategy Review Session held at the Akosombo Volta Hotel.
Held from Thursday, 15th to Sunday, 18, November, 2018, the Strategy Meeting enabled participants, made of Divisional and Departmental Heads to review their 2018 set targets, rate of achievements, challenges and how to efficiently end the year 2018 well.
The Strategy session was also used to fashion out Bank’s strategic focus for 2019.
Under the Strategy meeting themed: “GEXIM Supporting the Transformation of the Ghanaian Economy-Moving from Raw material-based economy to an Industrial-based one”, the CEO, Lawrence Agyinsam lauded the collective efforts of all staff who have made it possible for the Bank to achieve an appreciable level in its implementation of its 5-year Strategic Plan which was launched in 2017.
Mr. Agyinsam was hopeful that, with the massive injection of funds into agro-based and export oriented companies, the country will very soon witness the creation of jobs, foreign exchange inflow and added-value of our exports onto the international market, all contributing to the economic development of Ghana.
“To date, we have financed about 39 projects costing more than GHS400m in various sectors such as pharmaceuticals, production of raw materials and value added processes, as well as concentration on 15 non-traditional exports products including Cashew, avocado,, orange, fresh sweet potatoes, amongst others” he stressed at the 4-day intensive sessions.
The CEO further stressed that a Policy and a development Bank, the Bank is mandated to support the government’s ambitious Industrialization policy ‘1D1F’ which is aimed at rapid industrialization of the rural economy,, adding value to our agricultural produce and natural resources for export, creating employment for the youth and also leverage on comparative advantage on the international market.
Stressing on the bank’s focus on import-substitution initiatives, the Chief Executive Officer said the bank is supporting and will continue to support factories that are currently processing agricultural produce into ready products for consumption both locally and on the international market.
He said the Bank is determined to play a key role in reducing imports and encourage exports, bemoaning the fact that as a country, we spend over USD 2 billion every year importing food, for example, we import over 1 billion worth of Rice, about US 320m of Sugar and USD 374m of poultry adding “this trend cannot be allowed to continue”.
To reverse these trends, Mr. Agyinsam called on the staff to reposition themselves well to play a strategic and interventionist role by effectively and efficiently implementing strategies, programs and activities that will see the Bank accelerating its financial and advisory support in the Government’s 1D1F in year 2019 and immensely embracing the “Ghana beyond Aid agenda.
A group picture of staff of GEXIM after the Strategy Session
In a related development, Ghana Exim Bank was adjudged the “Development Bank of the Year 2017” at the 2nd Chamber Business Awards 2017 organized by the Ghana National Chamber of Commerce and Industry (GNCCI) on Saturday, November 17, 2018.
Accompanying the Chambers’ President’s Special Award, the citation mentioned amongst others, the interventionist role that the Bank had played in the Ghanaian Export sector that has seen several export commodities such as pharmaceuticals, food crops, and livestock witness massive support through export facilitation as one of the reasons why the enviable award was bestowed on the Bank.
Mr. Lawrence Agyinsam thanked the President of the Chamber for this recognition and honour and pledged on behalf of the Bank that, the Award would spur the Board, Management and Staff on to deliver on its mandate to the admiration of all Stakeholders.
CEO, Lawrence Agyinsam(r), receiving the Award from Dr. Ernest Kwamina Yedu Addison, Governor of the Bank of Ghana