Ghana EXIM Bank targets export-led growth to curb import dependence

Ghana is making a deliberate shift away from an import-driven economy towards a production-based, export-led growth model, with the Ghana Export-Import Bank (GEXIM) positioned at the centre of that transformation.

Speaking at the Bank’s 10th anniversary conference, Sylvester Mensah, CEO of Ghana EXIM Bank, emphasised that the next phase of the bank’s economic strategy will prioritise exports, value addition, and industrial expansion over consumption.

“Our work is clear: to shift Ghana from a consumption-driven import model to a production-based, export-led growth strategy,” he stated.

The reset, themed “A Decade Enabling Export Trade and Industrial Transformation: Resetting GEXIM for the Next Frontier,” signals a more targeted approach to economic growth.

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Key sectors identified include agro-processing, garments, pharmaceuticals, and strategic food value chains such as rice and poultry.

Mensah also noted that while GEXIM has made progress over the past decade, the future will depend on how effectively Ghana builds competitive industries capable of generating foreign exchange and reducing import dependence.

He stressed that export competitiveness must be built across the entire production chain, not just at the point of trade.

“Export competitiveness is built long before goods arrive at a port,” he said.

With a renewed focus on measurable outcomes, the bank is positioning itself as a critical vehicle for transforming Ghana’s economic structure and strengthening its participation in global markets.

FKA/BAI

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