GEXIM, Saudi EXIM Bank sign MoU to champion export growth

As part of efforts to champion Ghana’s economic transformation through the facilitation of international trade and export development, the Ghana Export–Import Bank (GEXIM) has signed a Memorandum of Understanding (MoU) with the Saudi EXIM Bank. 

The agreement stipulates the cooperation between the two banks to promote the export of goods and services from their respective countries, exchange of information and best practices and capacity building.

It will explore further opportunities, including extension of credit lines, project financing, funding for on-lending and issuance of transactional guarantees.

The Chief Executive of GEXIM, Sylvester A. Mensah and the Chief Executive Officer (CEO) of Saudi EXIM Bank, Saad Alkhalb, signed the MoU, which is currently in effect in Côte d’Ivoire, on the sidelines of the 2025 African Development Bank (AfDB) Annual Meetings. 

Mr Mensah highlighted GEXIM’s strategic direction and immediate priorities for the next four years, including increased food production, support for agribusiness to generate growth in job opportunities with a focus on agriculture and the garment sub-sector. 

That, he said, was in line with the government’s agenda to reset the Ghanaian economy into an export-led one by providing the desired funding for Ghanaian businesses.  

On his part, Mr Alkhalb indicated the importance of deepening relations between Saudi Arabia and Ghana and becoming strategic partners. 

He further expressed his management’s commitment to fully implementing the MoU to benefit Ghanaian and Saudi businesses.