[ 2016-09-26 ]

GHIB to expand operations to East Africa
Managers of the Ghana International Bank have
disclosed that the bank will soon commence
operations in East African countries such as
Rwanda, Tanzania, and Zambia to help improve
Ghana’s trade finance.

According to the managers, the bank currently
holds an asset of 400 million British pounds on
the African continent.

Speaking to Citi Business News at the sidelines of
an International Trade Finance Programme, the
Executive Director of the bank, Mark Arthur stated
that the primary aim of the bank is to deepen
financial relationship with other countries to
help improve Ghana’s trade budget.

“In Eastern Africa we are focusing on Kenya and
certain African neighbors like Rwanda, Tanzania,
Zambia and so on. This is relatively new markets
that we are entering,” he said.

He stated that the bank is still developing and
deepening relationships with other African
countries to promote trade.

He pointed that, in Nigeria the bank decided to
operate in the secondary market to maximize its
output.

Touching on the four-day programme organized by
the bank, Mr. Arthur stated that about 40 bankers
and senior business executives will attend this
year’s programme, which is the sixth.

“We are excited about the next four days, we
will cover the full range of trade finance
products, recent issues in international trade
finance, risk assessment, money laundering and
fraud as well as practical problem solving,” he
said.

Presenting his opening remarks, an Advisor to the
Governor of the central bank Mr. Franklin Belnye
said “banks play a key role in international
trade by providing the finance which is vital to
the process”.

He stated that banks have to understand the
customs and practices involved to make financial
transactions effective.

“We at the Bank of Ghana are committed to
promoting for the discussion and communication of
issues affecting the banking community in
particular, and the economy as a whole,” he
said.

Source - citibsinessnews.com

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