The Chief Executive Officer of the Ghana Export-Import Bank (EXIM Bank), Sylvester Mensah, has reaffirmed the bank’s commitment to supporting viable investments that promote production, value addition, exports and sustainable employment.
He said such investments were essential building blocks for the successful implementation of Ghana’s 24-Hour Economy agenda.
Mr Mensah made the statement at the commissioning of the multimillion-dollar Northshore Apparel garment factory in Savelugu in the Northern Region.
He said the investment aligned strongly with the government’s vision of building a productive economy driven by strategic enterprises capable of operating at scale, increasing production, creating sustainable jobs and competing effectively in international markets.
“Northshore Apparel represents exactly the kind of industrial investment needed to drive this transformation,” Mr Mensah said.
Northshore to create 10,000 jobs
According to the EXIM Bank CEO, the first phase of the Northshore Apparel factory is expected to create about 3,000 immediate jobs, with the potential to increase to 10,000 direct jobs when the facility reaches full operational capacity.
He said the development demonstrated the enormous potential of Ghana’s garment and apparel industry, particularly in creating employment opportunities for the country’s youth.
Mr Mensah noted that the factory’s economic impact would extend beyond its premises, creating opportunities for businesses engaged in transportation, logistics, food services, accommodation, maintenance, packaging and other activities along the value chain.
Reflecting on the establishment of EXIM Bank about a decade ago, Mr Mensah commended President John Dramani Mahama for what he described as visionary leadership in establishing the bank to support Ghanaian enterprises, promote exports, create jobs and generate foreign exchange.
He said EXIM Bank’s support for investments such as Northshore Apparel demonstrated the impact of that vision.
“Northshore Apparel is more than a factory. It is an investment in people, skills, jobs, exports and Ghana’s industrial future,” he stated.
He said the project demonstrated how visionary leadership, strategic financing, international partnerships and private enterprise could come together to deliver meaningful economic transformation.
Commends development partners
Mr Mensah expressed appreciation to the German Ambassador to Ghana and acknowledged the contributions of German development partners, particularly KfW Development Bank, the Investing for Employment (IFE) facility and GIZ.
He also commended other development and institutional partners whose strategic partnerships and innovative financing, he said, had helped transform the vision for Northshore Apparel into a modern, export-oriented industrial facility.
The EXIM Bank CEO commended the promoters and management of Northshore Apparel for their confidence in the people and economic potential of northern Ghana.
He also thanked the traditional authorities and the people of Savelugu for creating an enabling environment for the establishment of the factory.
Mr Mensah said EXIM Bank would continue to support investments capable of strengthening Ghana’s productive capacity, expanding exports, creating jobs and contributing to sustainable economic growth.
