GEXIM signs eight strategic agreements to boost local manufacturing

The Ghana Export-Import Bank (GEXIM) has signed eight memorandum of understanding (MoU) agreements with local companies and international partners aimed at reducing the country’s dependence on imports and accelerating industrial growth.

The agreements were finalised during GEXIM’s 10th Anniversary International Conference in Accra. Beneficiary companies include Northshore Apparel Ghana Limited, TKS Packaging & Printing Limited, Nadkansco Company Limited, Freshsaco Foods Exports Company Limited, SPEG and Buntaa Farms Limited.

According to officials, the deals target key sectors such as garments, packaging, agro-processing and poultry production. The goal is to scale up local production, create jobs and position Ghana as a manufacturing hub for West Africa.

Industry observers note that the selection of sectors directly addresses Ghana’s historical pattern of exporting raw materials and importing finished goods. The garment partnership, for instance, is expected to strengthen local textile manufacturing and could help Ghana become a competitive supplier under continental trade agreements. Investments in packaging and agro-processing aim to help Ghanaian products meet international export standards.

The poultry and food-processing components of the initiative are also expected to reduce Ghana’s food import bill, which has placed sustained pressure on foreign exchange reserves.

A key element of the initiative is GEXIM’s collaboration with Arise Integrated Industrial Platforms (ARISE IIP), an international industrial infrastructure developer. The partnership is designed to accelerate the development of modern industrial zones that cluster manufacturers, lower production costs and attract foreign investment.

GEXIM has also partnered with the Biotechnology and Nuclear Agriculture Research Institute (BNARI) to scale up production of improved planting materials for the pineapple industry, with the aim of boosting agricultural exports.

Officials say the agreements are tied directly to financing pipelines, infrastructure development and production targets, signalling a shift from policy rhetoric to implementation.

The initiative aligns with Ghana’s strategy to compete within the African Continental Free Trade Area (AfCFTA) by strengthening domestic production chains and turning local industries into regional export champions.