Energy Bank Ghana has put in place effective and efficient trade finance services and products, as well as processes and procedures to enhance and facilitate trade transactions between Ghanaian businesses and their Korean counterparts.
According to the Managing Director and Chief Executive Officer, Mrs. Christiana Olaoye, her outfit has well-structured trade finance products backed by comprehensive advisory services to support trade between Ghanaian and Korean firms.
Speaking at a breakfast meeting between Ghanaian and Korean businesses facilitated by Krif Ghana Limited in collaboration with Action Chapel International and the Korean Embassy, Mrs.Olaoye saidtrade opportunities between Ghana and Korea abounds a lot and therefore Energy Bank would provide Ghanaian entrepreneurs and their Korean counterpart’s products and services to meet their import and export requirements.
“We believe that export support for Ghanaian entrepreneurs, especially in the area of trade and investment information, business partnerships and effective collaboration, as well as trade finance options and solutions, will bring further opportunities to address the gap in trade between Ghana and Korea. As a Bank, we are totally consumed with creating satisfaction for stakeholders, and, at the same time, contributing to the growth of the national economy by being a partner in the economic development process”, she explained.
She dispelled the perception that Energy Bank is an energy-focused bank, saying “The ‘Energy’ in our name showcases a bank with vitality, strength and power in its approach to solutions-driven banking.”
Some of the trade finance products that the bank offers include documentary collections, documentary credits, letters of credits and guarantees.
Mrs. Olaoye explained further that Energy Bank’s selling points are quick turn-around time, excellent service and flexibility, deep understanding and knowledge of trade finance products and services as well as strong correspondent banking relationships and trade lines.
Also speaking, the Chief Executive Officer of the Ghana Investment Promotion Center, Mrs. MawuenaTrebarhsaid her outfit is now focusing on specific foreign direct investments in order to attract more businesses into key sectors of the economy.
According to her, Ghana continues to be an attractive investment venue for businesses from the Far and Middle East, Europe, Africa and the United States of America.
Over the years, Korea and Ghana have deepened their bilateral economic relations, especially in the area of trade, and this is evident in the steady growth of the trade volumes between the two countries over time.
In 2015, the trade volumes between the two countries were in excess of $400million, but the balance of trade was in favour of Korea.
Energy Bank presently has 11 branches and one agency in four regions of Ghana and is planning to expand its footprints in 2017.
By: Leticia Ohene-Asiedu/Kasapafmonline.com
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