Exim Bank urges Volta to turn economic opportunities into bankable investments

Ghana Exim Bank Chief Executive Officer Sylvester Mensah has called on stakeholders in the Volta Region to shift their focus from merely highlighting the region's potential to transforming those opportunities into tangible investments. At the Volta Economic Forum – Te Za Edition in Ho, Mr Mensah emphasized that the forum should aim to foster economic transformation, investment confidence, and shared prosperity.

The theme "From Opportunity Showcase to Investment Execution" underscores the need to bridge the gap between the region's abundant possibilities and actual projects that could generate employment and spur regional development.

Mr Mensah pointed out that the Volta Region boasts fertile agricultural lands, coastal resources, mountains, waterfalls, rich cultural heritage, and a hardworking populace, positioning it as a potential hub for production, investment, and export-led growth. However, he noted that much of what is produced in the region remains in its raw form, resulting in a loss of value addition, employment opportunities, and economic benefits.

He used cassava production as an example, highlighting the potential for processing cassava into industrial starch, high-quality flour, animal feed, and ethanol. Similarly, he mentioned mango production could support juice, concentrate, and dried-fruit processing for export.

The key to turning opportunities into investments, according to Mr Mensah, lies in focused action, which includes clarity on project implementation, financing mechanisms, market access, and operational timelines. Investors require certainty regarding land ownership, off-take agreements, regulatory approvals, and credible dispute resolution mechanisms before committing resources.

Ghana Exim Bank, established to facilitate international trade and support import substitution, can help by providing capital, technical assistance, and export-readiness initiatives, including financing feasibility studies and structuring public-private partnerships.

Mr Mensah urged entrepreneurs to prepare their businesses for financing by maintaining accurate records, separating personal and business finances, establishing sound governance structures, securing necessary licenses, demonstrating effective risk management, and ensuring their products meet genuine market demand. He expressed hope that the Volta Region would soon host a garment and apparel factory, creating employment opportunities in the region.

Additionally, Ghana Exim Bank has dedicated its 10th anniversary project to the Anlo area, constructing an astroturf field as part of its development support. Mr Mensah emphasized that the Economic Forum should go beyond mere speeches and a communiqué by producing a credible pipeline of investment-ready projects, supported by the Bank through various initiatives.