GEXIM pledges support for textile and apparel industry

By InstinctBusiness Feb 21, 2025 0

The Acting Chief Executive of the Ghana Export-Import Bank (GEXIM), Sylvester Mensah, has reaffirmed the Bank’s commitment to supporting the textile and apparel industry in alignment with the government’s 24-hour economy policy aimed at job creation and economic growth.

Mensah made this declaration while accompanying the Minister of Trade, Agribusiness, and Industry, Elizabeth Ofosu Adjare, on a working visit to the manufacturing units of Dignity DTRT Limited and Tex Styles Ghana Ltd, producers of Vlisco, GTP, and Woodin, in Accra and Tema.

“In line with the President’s assurance to encourage exports and generate employment, we consider the garment sub-sector as an area that can quickly create jobs and generate foreign exchange to reduce the burden on the cedi,” Mensah stated. “We are here today with the Honorable Minister to familiarize ourselves with the operations of these companies, explore ways to address their challenges, and provide the necessary support to help them expand and create more jobs for Ghanaians.”

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Minister Ofosu Adjare reiterated the government’s commitment to collaborating with the private sector to drive industrialization and enhance exports. She assured stakeholders of the government’s efforts to create a business-friendly environment that enables industries to thrive.

“We are willing to assist the garment sector as much as we can to enable them to create the needed jobs and to export. We commend your efforts and will support you in replicating this business model in other regions to generate more employment,” she said.

During the visit, Mr. Kodwo Agyenim-Boateng, Managing Director of Tex Styles, and Mr. Skip Richmond, Founder and Co-CEO of DTRT Group, expressed appreciation for the visit and called for closer collaboration between the Ministry, GEXIM, and industry stakeholders to address challenges facing the sector.

Prior to the working tour, Minister Ofosu Adjare and GEXIM’s management held a meeting on February 10, 2025, with key industry players, including Volta Star Textiles Ltd (VSTL), Akosombo Industrial Company Limited (AICL), Tex Styles Ghana Ltd (TSGL), and Dignity DTRT Limited, at the Ministry’s office in Accra. The discussions centered on strategies to enhance the sector’s contribution to job creation and economic growth.