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
-
FIFA Club World Cup 2025: Sundowns, Esperance join Al Ahly and Wydad as CAF representatives
2 hours -
CAFCL: Al Ahly set up historic final with ES Tunis
2 hours -
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
6 hours -
King Charles to resume public duties after progress in cancer treatment
7 hours -
Arda Guler scores on first start in La Liga as Madrid beat Real Sociedad
7 hours -
Fatawu Issahaku’s Leicester City secures Premier League promotion after Leeds defeat
7 hours -
Anticipation builds as Junior Speller hosts nationwide auditions
8 hours -
Etse Sikanku: The driver’s mate conundrum
8 hours -
IMF Deputy Chief worried large chunk of Eurobonds is used to service debt
8 hours -
Otumfuo Osei Tutu II celebrates 25 years of peaceful rule on golden stool
9 hours -
We have enough funds to pay accruing benefits; we’ve never missed pension payments since 1991 – SSNIT
9 hours -
Let’s embrace shared vision and propel National Banking College – First Deputy Governor
10 hours -
Liverpool agree compensation deal with Feyenoord for Slot
10 hours -
Ejisu by-election: There’s no evidence of NPP engaging in vote-buying – Ahiagbah
10 hours -
Ejisu by-election: Independent ex-NPP MP’s campaign team warns party against dubious tactics
10 hours