By Kofi Ahovi
Eximguaranty Company Limited in partnership with the Guarantee Fund for West Africa (GARI) has organized a workshop for Financial Institutions (FI) in the country.
The workshop, which was on the theme “Facilitating credit to SMEs: the role of credit guarantees”, was a means to strengthen the collaboration between Eximguaranty and the FIs.
Participants at the interactive workshop explored innovative ways to expand collaboration between the FIs and Exim to boost access to long term credit by small and medium enterprises (SMEs) operating in Ghana.
Key focus areas of the workshop were priority support sectors, terms and conditions, security sharing agreements, and the complementary operation of GARI among others.
Managing Director, Felicity Acquah, observed that Exim in partnerships with the FIs have granted credit guarantees to the value of GHc193.03 million to SMEs over the last 17 years.
The Board Chairman of Exim, Felix Ntrakwah, highlighted the fact that globally, credit guarantee companies and funds have seen a renaissance and resurgence of interest mainly due to their influence in getting SMEs to observe good corporate governance and generate employment. “Exim has therefore been positioned to share credit risk with FIs in order to increase SME sector access to loans and long term credit to release the potential of the SMEs for economic growth,” he added.
Eximguaranty has held similar workshops for bankers over the past eight years with the goal of improving collaboration towards risk mitigation in credit support for SMEs operating in the country.
Established in 1994 by the Bank of Ghana with a national agenda to promote the growth of the agriculture, non-traditional exports, services and manufacturing sectors through credit support for SMEs, Eximguaranty remains the primary credit guarantee institution for SMEs and NTEs in Ghana.
The company is a member of the Association of Development Finance Institutions (AADFI) in Africa and also serves on the Guarantee Committee of the GARI in Lome.
Exim has opened a business office in Kumasi to serve five regions; Ashanti, Brong Ahafo, Northern, Upper East and Upper West regions. Another office is expected to be opened in the first quarter of 2012 in Takoradi to serve the needs of FIs in the Central and Western regions.
In line with global trends, the operations of Exim aim to facilitate the growth of SMEs, expand tax revenues for government and fuel expansion of private sector production and operational capacity. Other direct benefits include increase employment levels, entrepreneurial innovations and investment in technology transfer project
US-Based Doctor Supports Weija Leprosarium, Underprivileged Children In Ankaase With Cash & Food Items
In a remarkable display of philanthropy, US-based medical practitioner, Dr. Kofi Kyei Sarfo, and the Sarfo family have made significant donations to support vulnerable communities in Ghana. During his visit to Ghana for the Christmas and New Year festivities, Dr. Sarfo and his family donated assorted food items and $5,000 to the Weija Leprosarium in Accra. This generous act aims to improve the lives of the inmates and support the tireless efforts of Rev. Father Andrew Campbell, founder of the Lepers Aid Committee. The donation to the Weija Leprosarium is a testament to Dr. Sarfo's commitment to giving back to his community. He praised Rev. Father Andrew Campbell for his selfless work in integrating cured lepers into society, emphasizing the need for continued support to ensure the well-being of the inmates. Dr. Sarfo encouraged others to follow in his footsteps, stating that every donation, no matter how small, can make a significant difference in the lives of the inmates. The don...
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