CEO of Saudi Exim bank, Saad Alkhalb and CEO of Ghana Exim Bank, Sylvester Mensah
The Ghana Export–Import Bank (GEXIM) has signed a Memorandum of Understanding (MoU) with the Saudi EXIM Bank to enhance economic ties.
The agreement signed on Monday, May 26, 2025, forms part of efforts by the government to champion Ghana’s economic transformation through the facilitation of international trade and export development.
The 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) ongoing annual meeting which runs from May 26 to May 30, 2025.
The agreement stipulates that the cooperation between the two banks will; promote the export of goods and services from their respective countries, exchange information and best practices, and boost capacity building efforts.
It will further help the government to explore opportunities including extension of credit lines, project financing, funding for on-lending and issuance of transactional guarantees.
Mensah stated he was honored to have led the signing of the agreement which is in pursuit of GEXIM’s mission to drive Ghana’s economic transformation through international trade and export development.
“I am pleased to announce that Ghana EXIM Bank (GEXIM) has signed a Memorandum of Understanding (MoU) with the Saudi EXIM Bank. I had the honor of signing on behalf of GEXIM, alongside His Excellency Saad Alkhalb, CEO of Saudi EXIM Bank,” he said.
“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,” he added.
The GEXIM Chief Executive further 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.
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.
SP/VPO
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