Ghana International Bank has facilitated a trade finance programme for over 60 bankers from across six West African countries.
The training seminar focused on various international trade finance products that banks can use in serving their customers.
Country Representative Ghana and Head Client Coverage Africa, Baafuor Ohene Abankwah, said the training is a component of GHIB’s initiatives to offer top-notch financial services and act as a link to the country’s banking institutions.
“As a wholly Ghanaian bank incorporated in the UK, we have been the heart of trade finance in Africa for many years, dating back to the 1950s. We believe that we have a role to play in building trade finance capacity so we are passionate about organising such training programmes. This is the eighth session, and we have over 60 bankers from across six countries in West Africa present to be equipped on how to facilitate trade between the countries they represent and the rest of the world”.
Chief Executive Officer of the Ghana Association of Banks, John Awuah, said the training is timely for banks in West Africa to further understand trade finance instruments that can help in the African Continental Free Trade Area (AfCFTA).
“The good thing about trade finance is that it makes transaction costs a bit manageable because it is cheaper compared to conventional financing, so trade finance products provide that bridge that enables businesses to access financing in a more cost-effective manner.”
Since its foundation, GHIB has made a significant economic contribution to Ghana by collaborating closely with a few local banks. The bank has made it easier for items to be imported and for some of Ghana’s exports to go through.