The Chief Executive Officer of the Ghana Export-Import Bank, Sylvester Adinam Mensah, has outlined key lessons from the Bank’s first decade of operations, stressing that access to finance alone is insufficient to drive export growth.
Speaking at GEXIM’s 10th anniversary international conference in Accra on Wednesday, March 25, he said many Ghanaian businesses face challenges beyond funding, including high capital costs, limited market information, weak logistics, and difficulty meeting international standards.
“Finance by itself is not enough. Businesses need a complete support system, not just a single facility,” he said, noting that these structural constraints continue to limit the ability of firms to expand into global markets.
Mr. Mensah further explained that export competitiveness is built long before products reach international markets, stating factors such as farm productivity, factory efficiency, quality assurance, storage, and packaging all play a critical role in determining whether Ghanaian goods can compete globally.
He added that competition begins locally, as domestic products must first compete with imports within the Ghanaian market before expanding abroad. This, he noted, highlights the need to strengthen production systems and improve overall efficiency.
The GEXIM CEO also emphasised the importance of discipline in development finance, stating that institutions must balance ambition with strong risk management. “We must be bold enough to support transformation, but rigorous enough to preserve the quality of our balance sheet and credibility,” he said.
