To promote Ghana’s economic transformation through the enhancement of international trade and export development, the Ghana Export-Import Bank (GEXIM) entered into a Memorandum of Understanding (MoU) with the Saudi EXIM Bank on Monday.
The MoU was signed by Hon. Sylvester A. Mensah, Chief Executive of GEXIM, and His Excellency Saad Alkhalb, Chief Executive Officer of Saudi EXIM Bank, in Côte d’Ivoire during the 2025 African Development Bank (AfDB) Annual Meetings, which are scheduled from May 26th to May 30th, 2025.
This agreement outlines the collaboration between the two banks aimed at promoting the export of goods and services from their respective nations, facilitating the exchange of information and best practices, enhancing capacity building, and exploring additional opportunities such as extending credit lines, project financing, funding for on-lending, and the issuance of transactional guarantees.
Mr. Mensah subsequently remarked that in alignment with GEXIM’s mission to propel Ghana’s economic transformation through international trade and export development, he was “pleased to announce that Ghana EXIM Bank (GEXIM) has signed a Memorandum of Understanding (MoU) with the Saudi EXIM Bank. I had the privilege of signing on behalf of GEXIM, alongside His Excellency Saad Alkhalb, CEO of Saudi EXIM Bank.”
He emphasized that the agreement is strategic and “establishes the groundwork for enhanced cooperation between our two institutions — encompassing export promotion, knowledge sharing, capacity building, project financing, credit lines for Saudi equipment imports, and transactional guarantees.”
The Chief Executive of GEXIM indicated that the bank’s strategic focus for the upcoming four years will be to prioritize the increase of food production, strengthen agro-processing, and invest in job creation — particularly within the agriculture and garment and apparel sectors.
According to him, this aligns with President John Mahama’s broader vision of establishing a resilient, export-driven economy and fostering job creation.
He expressed his enthusiasm for “this new chapter of collaboration” and anticipated unlocking opportunities for both Ghanaian and Saudi businesses.
His Excellency Saad Alkhalb emphasized the significance of strengthening relations between Saudi Arabia and Ghana, aiming to become strategic partners. He also conveyed his management’s dedication to the full execution of the MoU, which is intended to benefit businesses in both Ghana and Saudi Arabia.
The GEXIM team comprised the General Manager of Finance and Strategy, Isaac Amissah – Aidoo, the Head of International Cooperation, Jonathan Christopher Koney, and the Manager of Corporate Affairs, Marcus Garvey Adampah.
