Ghana’s economy is set to receive a major boost as the African Export-Import Bank (Afreximbank) considers providing an additional $1.7 billion in financing.
This comes on top of Afreximbank’s existing support of $1.76 billion for Ghana’s public and private sectors.
Afreximbank’s potential $1.7 billion investment is expected to benefit various sectors in Ghana, including infrastructure and trade.
A recent example of Afreximbank’s support for Ghana’s development is Project Shiprite. A consortium of banks including Afreximbank, the African Development Bank (AfDB), Eastern and Southern African Trade and Development Bank (TDB) and Petra Pension Schemes provided $94 million in funding to PMD Assetco Limited (PMD) to build a floating dock ship-repair facility in the port of Takoradi.
This project will position Ghana as a regional maritime hub.
Ghana’s strong relationship with Afreximbank is further solidified by its participation in the recent Afreximbank Annual Meetings and 3rd African-Caribbean Trade and Investment Forum (ACTIF2024) in Nassau, Bahamas.
The forum’s theme was “Owning Our Destiny: Economic Prosperity on the Platform of Global Africa”. Ghana’s Minister of State, Abena Osei-Asare, led the country’s delegation and delivered keynote remarks at the opening ceremony.
Ghana is a founding member and shareholder of Afreximbank, holding 3.645 Class A shares, which represents 2.41% of the bank’s total shareholding.
This demonstrates Ghana’s long-standing commitment to the bank.
