Business24 Newspaper 29 July 2022

Page 1

F R I DAY, JU LY 2 9, 2022

.COM.GH

NEWS FOR BUSINESS LEADERS

SSNIT seeks strategic investors over nonperforming assets BY EUGENE DAVIS

| STORY ON PAGE 3

IFC, LMI provide clean power and water to industry STORY ON PAGE 3

OBG, ASEA team up for key study on economic dev’t

A new focus report, produced by Oxford Business Group (OBG) with the African Securities Exchanges Association (ASEA), explores efforts under way to integrate the region’s stock markets, which is gathering pace on the back of growing awareness among key players of the need to build resilience and diversify the investor base. Titled “African Stock Exchanges”, the wide-ranging study provides detailed analysis of the trends, opportunities and challenges evident across the continent’s financial sector, and its capital markets in particular, in an easy-to-navigate and accessible format, supported by key data and infographics. The focus report shines a spotlight on the African Exchanges Linkages Project (AELP), which aims to connect stock exchanges regionally and foster both investment and trade, following a pilot phase that involves seven leading exchanges. The AELP is a joint initiative of ASEA and the African Development Bank, funded by the Korea-Africa Economic Cooperation (KOAFEC) Trust Fund, one of the Bank’s bilateral funds. The project is expected to increase the depth and liquidity of the region’s capital markets, while benefiting from anticipated heightened trade activity under the African Continental Free Trade Area agreement. | MORE ON PAGE 4

Exim Bank commits US$10m to yam export The Ghana Export - Import Bank (GEXIM) has announced a package of US$10 million to support yam export as part of the bank’s effort to develop the sector and ensure Ghana remains the world’s largest exporter of yam. The announcement was made by the Chief Executive Officer of GEXIM, Lawrence Agyinsam, at a Stakeholder Consultative Forum on Yam Export organised by the bank in Accra. It was under the theme: “Facilitating International Trade; The Role Of Ghana Exim Bank in Yam Exports”. According to Mr. Agyinsam, the bank, as part of its mandate is to support and

develop directly or indirectly trade between Ghana and other countries and build Ghana’s capacity and competitiveness in the international market place and approved by its Board, is ready to extend this financial support to this sector. “The Ghana Export – Import Bank Act, 2016 (Act 911) mandates us to plan, promote, develop and finance export-oriented concerns as well as provide support for Small and Medium Enterprises engaged in agro-processing and export trade. In 2020, export of yam tubers reached a record-high of | MORE ON PAGE 2


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