Northshore Apparel Hub shows what Ghanaian enterprise can achieve – GEXIM CEO
The Chief Executive of the Ghana Export-Import Bank (GEXIM), Sylvester Adinam Mensah, has described the soon-to-be-commissioned Northshore Apparel Hub in Savelugu as a powerful demonstration of Ghana’s capacity to use local enterprise and development finance to drive industrialisation, create jobs and expand exports.
Sylvester Adinam Mensah, Chief Executive of the Ghana Export-Import Bank (GEXIM), has hailed the recently commissioned Northshore Apparel Hub in Savelugu as a testament to Ghana's potential for economic growth and job creation through local enterprise and development finance. The wholly Ghanaian-owned facility, developed by Northshore Apparel Ghana Limited with support from GEXIM and other partners, is expected to generate 3,000 jobs in its initial phase, with that number potentially rising to 10,000 once fully operational.
Mensah emphasized that the Northshore Apparel Hub represents the fruition of GEXIM's vision since its inception a decade ago under the leadership of President John Dramani Mahama. The bank was established with the mandate to boost exports, generate foreign exchange, and foster productive sectors such as agribusiness to create jobs and strengthen Ghana's economy.
GEXIM's strategic emphasis on the garment and apparel manufacturing sector, chosen for its potential to drive economic transformation, underscores the significance of this project.
The commissioning of the apparel manufacturing facility is a physical embodiment of GEXIM's commitment to industrial and export-oriented enterprises. With financing from a blended-finance structure involving GEXIM, the Investing for Employment (IFE) facility of KfW, the Development Bank of Germany, and equity from the project promoters, the Northshore Apparel Hub is a cornerstone of the strategy to strengthen Ghana's domestic manufacturing base and enhance its competitiveness in international markets.
Mensah highlighted that the decision to locate the facility in Savelugu underscores the confidence in the capabilities of the people of Northern Ghana. The economic ripple effects of the new facility will extend beyond the direct employment, boosting demand for various goods and services, and ultimately improving the livelihoods of local communities.
With 3,000 jobs created in the first phase and potential for 10,000 jobs at full capacity, the Northshore Apparel Hub is poised to become a vital source of employment in the region, offering hope and opportunity for young people and their families.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
