The Ghana Export-Import (GEXIM) Bank has announced a reduction in collateral requirements for loans, in a move aimed at improving access to finance for businesses, particularly macro, small and medium-sized enterprises (SMEs).
The Chief Executive of the Bank, Hon. Sylvester Adinam Mensah, disclosed the decision during his closing remarks at the end of the institution’s 10th anniversary celebrations in Accra on Thursday, March 26.
He noted that the approval was reached at a recent Board meeting as part of broader efforts to stimulate enterprise growth and enhance export capacity.
According to him, the initiative is heavily anchored on easing financial constraints faced by SMEs, enabling them to expand operations and contribute more effectively to Ghana’s trade and industrialisation agenda.
Listen to the Chief Executive;
He, however, cautioned that while the reduction in collateral requirements presents new opportunities, beneficiaries must remain disciplined in servicing their loans to ensure the long-term sustainability of the Bank’s support programmes.
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Source: www.myjoyonline.com