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Business News of Tuesday, 27 November 2018


Finance Minister swears in 3-members of EXIM Bank board

Finance Minister Ken Ofori-Atta, has sworn in three new members of the Ghana EXIM Bank Board with a call on the 9-member board to prudently utilize the financial resources allocated to them in order to enable the government achieve its target of implementing the IDIF Project.

He said the Bank must serve as a stimulus to revamp Small and Medium Enterprises (SMEs) in the export sector to enable the government create the needed jobs for the unemployed, and also generate the needed foreign exchange for the country.

The Minister made these comments when he administered the Oath of Office and Oath of Secrecy to Ms. Afua Asaabea Asare, Chief Executive Officer, representing the Ghana Export Promotion Authority, Mrs. Elsie Addo Awadzi, Deputy Governor of the Bank of Ghana, and Mr. Ernest Akore, representing the Ministry of Finance.

Ofori-Atta said the Ministry of Finance and for that matter the government, will under the 2019 budget, vigorously pursue industrialization, agriculture business and entrepreneurship, and called on the bank to closely work with the Ministry to execute that agenda.

He used the occasion to advise the Board to adhere strictly to strategy and good corporate governance practices and ethics, to ensure transparency in their activities, stressing that “Ghana Exim Bank can efficiently leverage and learn from the good practices and experiences of Sister Exim Banks that you are affiliated to.”

The Minister promised to deepen relationship with the Bank and the Ministry of Trade and Industry, and other stakeholders to re-align their activities for the benefit of the economy.

Making a remark on behalf of the Board, Board Chairman, Mr. Kwadwo Boateng Gyenfi, expressed his appreciation to the Minister for the honour done them for the visit, and pledged that under his leadership, the Board will ensure increased export revenue, rapid industrialization of the economy, and will actualize the confidence reposed in them by President Nana Akufo-Addo.

The Board is the highest decision-making organ of the Bank.

The Bank was established by an Act of Parliament, The Ghana Export-Import Bank Act 2016, Act 911, and has its objective to support directly or indirectly trade between Ghana and other countries, and to build Ghana’s capacity and competitiveness in the international market place.

Deputy CEO of EXIM bank Pamela Akotoaa Addo resigns

The Deputy Chief Executive Officer of the Ghana EXIM Bank, Cynthia Pamela Akotoaa Addo, resigned in September 2018.

This enabled her to take up a new appointment as Judicial Secretary for the Judicial Service effective October 2, 2018.