Ghana is courting Gulf capital as part of a broader push to accelerate export-driven economic transformation, with the Ghana Export-Import Bank (GEXIM) signing a strategic Memorandum of Understanding (MoU) with the Saudi Export-Import Bank.
The agreement, inked during the 2025 African Development Bank (AfDB) Annual Meetings in Abidjan, marks a pivotal moment in Ghana’s quest to deepen its international trade and investment ties beyond traditional partners.
GEXIM CEO Slyvester Mensah and Saudi EXIM CEO Saad Alkhalb formalized the deal, which aims to unlock avenues for project financing, export credit, capacity building, and cross-border trade support—particularly in agro-processing, manufacturing, and high-potential sectors.
“This partnership enhances our capacity to finance export-oriented projects and support Ghanaian enterprises aiming to break into global markets,” said Mensah, stressing that the bank’s medium-term strategy focuses on value addition, job creation, and self-reliance.
With the backing of President John Mahama’s export-led development vision, the collaboration is expected to catalyze investments in food production and light industry, creating sustainable jobs and stabilizing foreign exchange flows.
Industry watchers view the move as part of a growing trend among African nations to diversify economic partnerships, particularly with Gulf economies eager to deploy capital in emerging markets.
Officials from both banks expressed confidence that the MoU would pave the way for long-term economic cooperation between Ghana and Saudi Arabia, fostering deeper bilateral trade and business exchanges in the years ahead.
