The Ghana Export Promotion Authority (GEPA), has engaged some banks to support export companies with affordable credit facilities for the financing of their exports. 

Chief Executive Office of GEPA, Afua Asabea Asare, believes this initiative would go a long way to increase export values by almost 30 per cent.

“Most of the time we get small and medium export companies to come to us for financing and GEPA is not in that position to help and so we thought that we should facilitate banks to aid them with credit facilities. This will help them produce a lot more so we push into the market,” she explained to JoyBusiness.

Despite various initiatives to help micro, small and medium export companies export products, the Ghana Export Promotion Authority has singled out the lack of financing as a major challenge hampering the quest to boost export values in Ghana. 

Afia Asabea Aware, at a financing forum organised by her outfit, has been explaining how GEPA has agreed with some selected banks to bridge the export financing gap.

The forum saw officials of Fidelity, Stanbic, Prudential and GCB make presentations on the various credit facilities available for exporters.

Non-Traditional Export (NTE) earnings in 2017 amounted to $ 2.557 billion, representing a 3.81% increase over the 2016 performance of $ 2.463 billion.

On average, the NTE sector earnings have been growing at an annual rate of 1.22%, with cocoa derivatives contributing significantly to the 2017 kitty. The contribution of the NTE sector to the overall merchandise export of Ghana was 18.37% in 2017, a tapered performance compared to 20% in 2016.

The Ghana Export Promotion Authority (GEPA) has launched a project to build the capacity of small and medium-scale enterprises (SMEs). The virtual trade hub is intended to make them adopt sustainable practices to make their products meet the standards of the international market.

The hub is expected to equip SMEs operating in areas such as cocoa processing, Shea butter production, fruits and vegetables processing, cashew processing, as well as arts and crafts, with one-stop-shop information and strategies on international trade.