Eximguaranty posts impressive 2012 results

Eximguaranty Company Ghana Limited (Exim) held its 14th Annual General Meeting (AGM), where it reported strong corporate performance in 2012 and resolved to build a portfolio of clients on the lower scale of the SME spectrum alongside its star products. The company posted positive results in all key financial indicators and maintains an optimistic outlook in the 2013 financial year.

Board Chairman Felix Ntrakwah announced a profitable operational year and asserted that the company is on track with its Five-year strategic plan to consolidate business fundamentals and build on the solid service foundation to aggressively grow operational income. “We remain resolute to maintain a strong financial position and grow the Guarantee Fund of the company,” he assured.

Managing Director Mr. Zac Bentum in his report said Exim issued Guarantees worth GH¢64,249,686 -- a 26% increase on the 2011 outturn. Total 2012 revenues rose by 49%, while the shareholders funds increased by 25% from that of 2011. Overall, total assets grew by 34% year on year.

Mr. Bentum said with the Takoradi office now operational, Exim is better-placed to serve clients in the Central and Western Regions. On the future, he assured that Exim’s national coverage, exciting products and innovative staff remain a key strength that will propel the company to continue delivering greater value to clients and the economy.

He indicated that Exim will review its processes and products, and streamline the existing relationship with the Export Development & Agriculture Investment Fund (EDAIF) into a strategic partnership to provide the much-needed support for the expanding SME sector.