By Benjamin Nii Nai Anyetei
The Ghana Export-Import Bank (GEXIM) has welcomed the recent three-year extension of the African Growth and Opportunity Act (AGOA), describing it as a strategic opportunity for Ghana and Africa to strengthen trade and industrialisation efforts.
The extension, approved by the US House of Representatives and awaiting Senate endorsement, restores duty-free access to the US market for eligible Ghanaian products. This development is expected to boost export-oriented manufacturing, particularly in the garments and apparel sector, while supporting job creation, industrial capacity utilisation, and foreign exchange inflows.
Speaking during the GEXIM@10 press launch, GEXIM CEO Sylvester Mensah emphasised the significance of AGOA for Africa’s integration into the global economy.
“AGOA is a very important policy programme for Africa, especially for those engaged in agriculture and agro-processing. Geopolitical shifts are moving many global brands closer to Africa, and Ghana stands to benefit, particularly in garments and apparel,” he said.
Mensah noted that some products previously sourced abroad are now being produced in Ghana, creating opportunities to generate jobs and strengthen the local economy. He linked the initiative to the government’s broader agenda, including the 24-Hour Economy and the country’s economic reset under President John Dramani Mahama.
GEXIM Board Chairman Dr. Joseph Nyarkotei Dorh said the Bank will consolidate its gains and leverage opportunities under the African Continental Free Trade Area (AfCFTA) to position Ghana as a hub for export-led growth.
“For GEXIM, our focus sectors include poultry, rice, and garments and apparel. We aim to build capacity, boost exports, and showcase Ghana as a centre for strategic projects,” Dr. Dorh stated.
The AGOA extension offers Ghana a unique chance to expand its industrial base, integrate further into global supply chains, and accelerate economic development across strategic sectors.
