The United Bank for Africa (UBA) Ghana has collaborated with the Ghana Export Promotion Authority (GEPA) to host a crucial sensitisation seminar titled 'Trade Liberalisation after the AfCFTA' at the Africa Trade House in Accra.
Peter Dery, the Head of Retail Banking at UBA Ghana, underscored the bank's dedication to assisting exporters in Africa through innovative banking solutions.
"With our extensive presence in 20 African countries, UBA Ghana is well-positioned to provide financial support to exporters across the region," stated Dery.
He further highlighted UBA's recent agreement with the AfCFTA Secretariat to offer financing of up to $6 billion over the next three years to eligible SMEs across Africa.
This initiative specifically targets African and Africa-based SMEs in sectors such as Agro-processing, Automotive, Pharmaceuticals, Transport and Logistics, identified jointly by UBA and the AfCFTA Secretariat to advance the goals of the AfCFTA Agreement.
He highlighted that UBA was a pioneer in the Pan Africa Payment and Settlement System to help facilitate trade across the continent.
Peter mentioned that in addition to this, UBA has other offerings like AfriTrade and helps to transact and trade solutions across Africa. Peter said the Africash remittance product is a novelty from UBA and it is real-time for customers who transact through UBA.
Dr Afua Asabea Asare, CEO of GEPA, emphasised the pivotal role of AfCFTA in driving economic growth and sustainable development across the continent.
"The AfCFTA creates a single market for goods and services, fostering a liberalized environment that promotes the movement of capital and natural persons across Africa without restrictions," articulated Dr. Asare.
The seminar also delved into Ghana's National Export Development Strategy (NEDS), aligned with AfCFTA objectives, focusing on expanding the supply base, improving the business regulatory environment, and enhancing human capital for industrial development and marketing.
Dr. Asare highlighted Ghana's efforts to position itself as a manufacturing and industrial hub, attracting investments from multinational corporations.
Recognizing the challenges faced by SMEs in navigating AfCFTA complexities, initiatives like the sensitization seminar and collaborations with financial institutions like UBA Ghana were underscored to equip SMEs with knowledge and resources for AfCFTA opportunities.
The event, attended by exporters, industry stakeholders, and government representatives, aimed to enlighten participants on AfCFTA's transformative potential for Ghanaian exporters and businesses eyeing the African market.
It concluded with a call for constructive dialogue, partnerships, and innovative approaches to realise sustainable economic development.
Latest Stories
-
Police clash with civilians at Dambai, teenager killed
2 mins -
Kwame Sowu: Combating Corruption and Fueling Growth Together in Ghana
2 mins -
Maame Tiwaa did not want to investigate Cecilia Dapaah’s case – Martin Kpebu
3 mins -
Kasoa is a time bomb waiting to explode – Security expert
14 mins -
I find pleasure in proving my critics wrong – Bawumia
17 mins -
US revokes licences for sales of chips to Huawei
41 mins -
Celebrating 74 years of Otumfuo Osei Tutu II: A journey of leadership and legacy
44 mins -
US reveals it paused shipment of bombs for Israel over Rafah concerns
47 mins -
Everyone safe after building collapses in Nairobi
48 mins -
SA president condemns flag-burning election advert
50 mins -
Misunderstanding behind staff arrest – Kenya Airways
52 mins -
I regret using some foul words in the diss songs I released – Amerado
54 mins -
GNPC defers Multimedia Group’s request for information on funded scholarships
59 mins -
Chelsea’s Silva to join Fluminense in May
1 hour -
COCOBOD confiscates 130 bags of smuggled cocoa in Mpraeso
1 hour