UMB to support importers, exporters take advantage of int’l market

UMB to support importers, exporters take advantage of int’l market
Source: Ghana | Shiela Tamakloe | JoyBusiness
Date: 20-02-2019 Time: 06:02:53:pm
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Universal Merchant Bank (UMB) says it is committed to supporting Importers and Exporters to help boost Ghana’s participation in international trade.

The Acting Chief Executive Officer of UMB, Benjamin Amenumey said the move is aimed at helping traders expand and take advantage of the ever-growing international trade markets.

He was speaking at the UMB trade and treasury colloquium in Accra Wednesday.

Mr Amenumey cited the recent signing of an agreement with the EU under the EPA which granted Ghana quota free on the agriculture exports to the EU and the signing of double taxation with Ireland as a clear sign of the nation moving in the right direction in terms of export.

He said, "We are of the opinion that with some concerted effort from all stakeholders, Ghana will become an African powerhouse for export. In that vein, we at UMB will make available the convenience of our wide range of tailor-made products for customers in their business."

He said UMB will intensify financial and advisory support to sustainable small and medium scale businesses.

Mr Amenumey also acknowledged the impact of the outcomes of the U.S. – China trade war and Brexit but expressed optimism and the Bank’s commitment to fully support businesses whatever the consequence may be. 

He stated that "these uncertainties are problematic but as a Bank, we are well positioned to foresee and device strategies to curtail its effects on your business operations. Ultimately, we can continue to build on our relationship with you beyond the success of our businesses to affect the larger society positively.”


Mr Amenumey added, “We need to encourage our customers to do more exports. With efforts from other stakeholders, I believe we’ll conquer other African countries and become a centre for exports. We at UMB have the privilege to introduce our tailor-made export products to you,” he added.

He encouraged the traders to also take advantage of the African Continental Free Trade Agreement.

The 2019 UMB Trade colloquium is one of many new initiatives the bank is undertaking to better serve business communities including the small and medium scale enterprises.

It is the first of a two-part series with the primary objective of discussing relevant topics that will enrich export business operations and investments of participants. 

Participants were made up of the Banks’ clientele, as well as prospective customers who are into the export and import business.


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