The Chief Executive Officer of the Ghana Export–Import Bank (Ghana EXIM Bank), Mr Sylvester Mensah, says the Bank has rolled out a comprehensive five-year export-led growth strategy aimed at driving trade expansion, strengthening domestic value chains and repositioning the institution as a disciplined development finance engine for national growth.
Addressing Ghanaian journalists at the Bank’s end-of-year gathering on Tuesday, December 23, Mr Mensah provided a detailed account of the state of the Bank when the new administration assumed office and outlined the reset underway to restore confidence, improve governance and deliver measurable economic impact.
He disclosed that as of December 31, 2024, Ghana EXIM Bank was grappling with serious structural and operational challenges, including high inflationary pressures, exchange rate volatility and weak macroeconomic conditions, which had placed significant strain on its balance sheet.
These difficulties, he said, were worsened by what he described as “dysfunctional management decisions,” leading to elevated risk exposures, weak internal controls and high levels of non-performing loans (NPLs).
According to Mr Mensah, the Bank’s gross loan portfolio stood at about GH¢1.5 billion, with severe concentration risk. Thirty borrowers alone accounted for nearly 80 per cent of total NPLs. Of these, 18 borrowers were fully disbursed but had refused to repay, while 12 were partially disbursed.
He attributed the situation to weak collateral arrangements, breaches of loan terms and poor repayment discipline, noting that the impact of EXIM financing had been significantly eroded by weak execution rather than a lack of mandate.
“The core challenge was not the absence of a mandate, but weak execution,” he stated.
To address these issues, Mr Mensah said management introduced a Reset Agenda to reposition Ghana EXIM Bank as a focused, disciplined and impact-driven development finance institution. The reset, he explained, seeks to strengthen governance, improve loan quality, fix legacy weaknesses and align the Bank with Ghana’s national economic priorities.
The Reset Agenda is anchored on Ghana’s Export-Led Growth Strategy for the period 2025–2030, which provides the framework for the Bank’s newly developed five-year strategic plan.
As part of the strategic refocus, the CEO said Ghana EXIM Bank has narrowed its lending priorities to high-impact sectors critical to import substitution, export growth and job creation. These include rice, poultry, apparel and selected non-traditional exports such as oil palm, cashew, shea and cocoa processing.
He noted that the Bank has moved away from ad-hoc lending and is now guided by data, sector studies and international best practices, with a strong emphasis on discipline in execution.
“Lending is now aligned with sector calendars, and funds are released in line with production cycles to ensure better utilisation, stronger repayment performance and improved sustainability,” Mr Mensah explained.
On legacy loans, he said the Bank has introduced new policy guidelines and a Code of Ethics, restructured partially disbursed facilities, pursued recovery of fully disbursed loans through legal means, and referred criminal matters to relevant state agencies where necessary. Senior staff have also been appointed to the boards of legacy loan companies to strengthen oversight.
Reviewing progress made in 2025, Mr Mensah said management and operational reforms had been rolled out, including organisational restructuring, stronger internal controls and the establishment of Sustainability and Strategic Impact Departments to ensure value-for-money and environmental, social and governance (ESG) compliance.
Cost-discipline measures were also introduced, including a contributory staff welfare scheme and the migration of vehicle loan financing to a commercial banking arrangement, freeing resources to support productive enterprises.
Looking ahead, the CEO said that from 2026, Ghana EXIM Bank expects stronger governance and policy alignment through deeper collaboration with the Ministry of Finance and the Bank of Ghana, as well as legal reforms to place the Bank under dual oversight by the Ministry of Trade, Agribusiness and Industry and the Ministry of Finance.
Key targets under the five-year export-led growth strategy include reducing rice and poultry imports by 40 to 50 per cent within five years, achieving more than 50 per cent growth in domestic food production, and generating over US$1 billion annually in agro-export earnings from non-traditional exports.
The strategy is also expected to create more than 100,000 jobs across agribusiness, agro-processing, rice, poultry and garment value chains, improve rural incomes, boost foreign exchange inflows and gradually reduce non-performing loans.
Mr Mensah concluded that through the Reset Agenda, Ghana EXIM Bank is now better positioned to strengthen SMEs, boost exports and deliver lasting national economic impact.
“These efforts will enhance food security, reduce food inflation, improve foreign exchange inflows to support cedi stability, and strengthen Ghana’s global competitiveness,” he said.
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