As part of efforts to champion Ghana’s economic transformation through the facilitation of international trade and export development, the Ghana Export – Import Bank (GEXIM) on Monday, May 26, signed a Memorandum of Understanding (MoU) with the Saudi EXIM Bank.

Chief Executive of GEXIM, Sylvester A. Mensah and Chief Executive Officer of Saudi EXIM Bank, His Excellency Saad Alkhalb signed the MoU, in Côte d’Ivoire on the sidelines of the 2025 African Development Bank (AfDB) Annual Meetings taking place from 26th to 30th May 2025.

The agreement stipulates the cooperation between the two banks to promote the export of goods and services from their respective countries, exchange of information and best practices, capacity building, as well as exploring further opportunities including extension of credit lines, project financing, funding for on-lending and issuance of transactional guarantees.

Mr Mensah later stated that in pursuit of GEXIM’s mission to drive Ghana’s economic transformation through international trade and export development, he was “pleased to announce that Ghana EXIM Bank (GEXIM) has signed a Memorandum of Understanding (MoU) with the Saudi EXIM Bank. I had the honour of signing on behalf of GEXIM, alongside His Excellency Saad Alkhalb, CEO of Saudi EXIM Bank.”

The agreement, he said was strategic and “lays the foundation for deepened cooperation between our two institutions — spanning export promotion, Knowledge sharing, capacity building, project financing, credit lines for Saudi equipment imports, and transactional guarantees.”

The GEXIM Chief Executive stated that the strategic focus for the bank over the next four years will be to prioritise increased food production and strengthen agro processing, and investments for job creation — especially in agriculture and the garment and apparel sub-sector. This, according to him, aligns with President John Mahama's broader vision to build a resilient, export-led economy and job creation.

He welcomed “this new chapter of collaboration and looked forward to unlocking opportunities for Ghanaian and Saudi businesses alike”

On his part, His Excellency Saad Alkhalb indicated the importance of deepening relations between Saudi Arabia and Ghana and becoming strategic partners. He further expressed his management’s commitment to fully implementing the MoU to benefit Ghanaian and Saudi businesses.

The GEXIM team included the General Manager, Finance and Strategy, Isaac Amissah – Aidoo, Head of International Cooperation, Jonathan Christopher Koney and Manager, Corporate Affairs, Marcus Garvey Adampah.