As many foreign banks are de-risking and exiting African markets, Ghana International Bank (GHIB) has adopted a different approach.
Instead of retreating, GHIB is investing in building capacity within correspondent banks in Africa to ensure high compliance standards for cross-border trade.
At the CNVERGE conference in London, GHIB’s CEO, Dean Adansi, discussed the bank’s strategy and its role in addressing the continent’s trade finance challenges.
During Ghana’s recent financial crisis, GHIB continued to finance trade while other banks retreated. Adansi emphasized the importance of finding solutions to promote trade activity in Africa.
The trade finance gap in Africa, estimated to be as high as US$120 billion, is exacerbated by the withdrawal of global banks.
This lack of correspondent banking hinders access to markets and economic growth.
GHIB’s approach has been to maintain strong relationships with correspondent banks in Africa.
The bank has handled over US$6.5 billion in documentary trade collections and executed numerous trade finance transactions in the region.
GHIB’s focus on six key areas—treasury and global markets, trade finance, corporate and institutional banking, retail and small business banking, correspondent banking, and payment solutions—positions it as a leader in African trade finance.
Through CNVERGE, GHIB aims to initiate a series of roundtables focused on generating new ideas to foster the growth of African trade.
By leveraging its experience and network, GHIB is committed to playing a pivotal role in shaping the future of African trade.
