Ghana International Bank Enhances Trade Finance to Strengthen African Markets
Ghana International Bank secures a US$50 million trade finance facility supported by the UK’s British International Investment to foster intra-African trade in several sub-Saharan markets. This initiative aims to address the credit gap in frontier markets and enhance liquidity for local businesses.
Ghana International Bank (GHIB) has entered into a trade finance agreement valued at US$50 million aimed at enhancing intra-African trade across various sub-Saharan countries, including Sierra Leone, Liberia, The Gambia, Benin, the Democratic Republic of Congo, Rwanda, and Tanzania. This funding initiative is backed by British International Investment (BII), the UK’s development finance institution, under a Master Risk Participation Agreement (MPRA).
The partnership between Ghana International Bank and British International Investment aims to significantly improve trade finance, thereby facilitating intra-African commerce in frontier markets. With a focus on enhancing liquidity and access to essential goods, this initiative is expected to support local businesses and contribute to economic growth in the region.
Original Source: africanreview.com
