Private sector must own Exim Bank - Terkper urges AGI

The Minister for Finance, Mr. Seth Terkper has urged the private sector to brace itself up to own Ghana’s Export and Import (EXIM) Bank as the country prepares for massive industrialization.

Speaking at the annual general assembly of the Association of Ghana Industries (AGI) in Kumasi, the Minister touted the power stabilization program of the government and assured AGI of stable power in 2017 which will mean industrial power will also stabilize.

He further noted the opportunities in the Petrochemical sector and encouraged members of Ghana's industrial association to exploit the opportunities, especially, in the production of fertilizers, an area the President will be focusing on to boost Agriculture.

The establishment of the EXIM Bank would take advantage of international trading partnerships, such as the African Growth and Opportunity Act, with the United States of America. The Minister said the bank would be independent but would be under the supervision of the Ministry of Finance and Economic Planning and the Trade Ministry.