Ghana: CBG Reiterates Commitment to Export Sector

It is imperative for Ghana to take advantage of exports of goods and services since it contributes more than 35 per cent of Ghana’s Gross Domestic Product (GDP), Deputy Managing Director of Consolidated Bank Ghana (CBG), Thairu Ndungu has said.

“Exports contribute more than 35 per cent of our GDP and it is very critical to the stability of the Ghana Cedi, hence the urge to spearhead the discussion on how to develop initiatives and activities that offer collaborative support and partnership with exporters in Ghana,” he said.

He said “CBG is committed to facilitating National Development and the first step is to fervently support Small and Medium Enterprises in Ghana.”

Thairu Ndungu said this when speaking at an export forum which brought together various exporters, export facilitation institutions and stakeholders to explore opportunities in international trade, in a bid to improve Ghana’s export trade.

The one-day Exporters Forum organised by CBG brought together representatives from the Ministry of Trade and Industry, Ghana Investment Promotion Centre (GIPC), Federation of Association of Ghanaian Exporters (FAGE) and Ghana Assorted Food Stuff Exporters Association (GAFEA).

The rest are the Ghana Root Crops and Tubers Exporters Union (GROCTEU), Vegetable Producers & Exporters Association (VEPEAG), Sea-Freight Pineapple Exporters of Ghana (SPEG) among others.

According to Mr Ndungu, the forum sought to foster relations and cooperation between CBG and exporters in the Ghanaian economy.

“By engaging key stakeholders through this forum, CBG pledges its support to our exporting customers, as you proudly showcase ‘Made in Ghana’ to the rest of the world. We promise to create a strong partnership that will not only benefit both of us but also the entire economy. It is my humble believe that this partnership will instrumentally promote national development and the agenda of ‘Ghana Beyond Aid’,” he noted.

Board Chairman of CBG, Nana Abra-Appiah, assured the exporters of CBG’s commitment to provide seamless management of funds.

“At CBG, we are ready to serve you with expert financial advisory services and banking with tailor-made solutions. We say that our doors are open to you always. Talk to us or walk in and patronise all our product offerings to the full benefit of you and your business needs,” he said.

Earlier, Director of Projects Ghana Export Promotion Authority (GEPA), Alexander Dadzawa, was full of admiration for CBG for meeting exporters to address their cash needs with tailor-made products.

“I must admit, this initiative is the first by a bank in Ghana and it is reassuring that CBG has called for all of us to listen to our banking needs. We look forward to more of such engagements and partnerships,” he said.