Skip to main content

Govt reconsiders decision on EDIF

By Kofi AHOVI

The government has reconsidered its decision to transform the Export Development and Investment Fund (EDIF) into a non-bank financial institution.

According to the government, the current operations of EDIF bar any unnecessary government or political interference and thereby giving it the free hand to operate.

The Minister of Trade and Industry, Hannah Tetteh, explained to BusinessWeek during the meet-the-press session last week, that considering the fallouts from the Micro-finance and Small Loan Centre (MASLOC) where issues of political meddling were raised and the huge record of non- payment of loans, the government decided to maintain the status quo of EDIF

The previous government, under President John Agyekum Kufuor, was considering the restructuring of EDIF as a non-bank financial institution to enable it to operate efficiently. This was because exporters were complaining about their inability to access the fund through the designated commercial banks.

EDIF funds were made available to exporters through commercial banks which had the sole responsibility of assessing the credit-worthiness of the exporters before granting them the loans. However, the banks themselves have their own export loan facilities and thereby creating a conflict of interest with respect to the issuance of loans.

Despite these challenges, EDIF approved a total of GH¢56,947 for 56 projects, during the first eight months of this year, under the Export Development and Promotion and the Export Credit and Project windows.

Under the Export Credit and Projects, a total of GH¢34.5 million was approved for 10 companies to produce products, such as pharmaceuticals, fruit drinks, palm oil, domestic plastic wares and pineapples, for export.

Under the Export Development and Promotion facility, a total of GH¢22.5 million was approved for 45 institutions and farmer-based associations. A key project funded under the facility is the cultivation of 5,000 acres of mango plantation in the Northern, Upper East, Upper West, Brong Ahafo and Volta regions. Since the inception of the project in 2008, over 7,000 acres of mango has been cultivated with EDIF’s funding.

Other major projects supported under the Export Development and Promotion facility include the support to over 3,000 members of the Cotton Growers Association to cultivate cotton for export; support to the Northern Star Tomato Factory at Pwalugu in the Upper East Region to resuscitate operations; budgeting support to the Ghana Export Promotion Council to undertake various export promotion activities.

Comments

Popular posts from this blog

UK-Ghana Trade & Investment Summit: Trade Resource Centre to help businesses maximise UK-Ghana trade opportunities

 In a significant boost to UK-Ghana trade and investment relations, the UK-Ghana Chamber of Commerce (UKGCC), in partnership with the UK-Ghana Jobs and Economic Transformation (JET) Programme, has launched the UK-Ghana Trade Resource Centre, a practical market-access platform designed to help businesses identify opportunities, navigate export requirements and build commercial partnerships between Ghana and the United Kingdom. The UK and Ghana enjoy strong trade relations, with total bilateral trade reaching approximately £1.6 billion in the year to Q1 2026. Yet, despite this progress, significant untapped opportunities remain for businesses in both countries. The Trade Resource Centre has been established to help bridge information gaps, connect businesses with the right partners, and support firms to take greater advantage of opportunities under the UK-Ghana Trade Partnership Agreement. The launch formed one of the major outcomes of the UK-Ghana Trade & Investment Summit 2026,...

NESCAFÉ Launches Real Vibes Text & Win Promo to Reward Coffee Consumers Across Ghana

 NESCAFÉ has launched the Real Vibes Text & Win Promo, an exciting consumer promotion designed to reward loyal coffee lovers and bring the brand’s My Coffee, My Vibe experience even closer to consumers across the country. Running from September to December, the promotion gives consumers the opportunity to enjoy their favourite NESCAFÉ coffee while standing a chance to win exciting prizes, including phones, motorcycles, airtime and the ultimate grand prize—an electric SUV. Speaking at the launch, Lily Ntim, Category Development Manager for NESCAFÉ, said the promotion reflects NESCAFÉ’s commitment to creating, rewarding and memorable experiences for consumers. “Today, we are excited to introduce the NESCAFÉ Real Vibes Text & Win Promo, a campaign designed to bring the My Coffee, My Vibe experience even closer to our consumers,” she said. She added that the campaign is not only about prizes, but also about celebrating the everyday moments consumers enjoy with their coffee. “T...

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican...