By Michael Foli Jackidy, GNA
Ho (V/R), Sept. 23, GNA – Mr Sylvester Adinam Mensah, the Chief Executive Officer of the Ghana Export-Import Bank (Ghana Exim Bank), has urged stakeholders in the Volta Region to move beyond showcasing the region’s economic potential and focus on converting opportunities into viable investments.
Speaking at the Volta Economic Forum – Te Za Edition in Ho, Mr Mensah said the forum should serve as a movement towards economic transformation, investment confidence and shared prosperity.
He said the theme, “From Opportunity Showcase to Investment Execution,” captured the need to close the gap between the region’s abundant opportunities and actual projects that could create jobs and transform communities.
Mr Mensah said the region possessed fertile agricultural lands, coastal resources, mountains, waterfalls, cultural heritage and a hardworking population, positioning it to become a major centre for production, investment and export-led growth.
He, however, observed that much of what was produced in the region continued to leave communities in its raw form, resulting in the loss of value addition, employment opportunities and economic benefits.
He cited cassava production as an opportunity that could be transformed through processing into industrial starch, high-quality flour, animal feed and ethanol, while mango production could support juice, concentrate and dried-fruit processing for export.
Mr Mensah said the difference between an opportunity and an investment was focused action, requiring clarity on who would implement a project, how it would be financed, where its market would be and when it would become operational.
He said investors also needed certainty regarding land ownership, off-taker arrangements, regulatory approvals and credible dispute-resolution mechanisms before committing resources to projects.
The Chief Executive said Ghana Exim Bank was established to facilitate Ghana’s international trade, promote exports and support import substitution.
He said Ghana could not achieve lasting prosperity by continuing to export raw materials and import finished products, stressing the need to produce more locally, add value to local resources and export competitively.
Mr Mensah urged entrepreneurs seeking financing to prepare their businesses properly by keeping accurate records, separating personal and business finances, establishing sound governance structures and securing the necessary licences.
He said businesses must also demonstrate effective risk management and ensure that their products addressed genuine market demand, noting that factories without reliable raw materials and products without customers would struggle to survive.
Touching on developments in the Volta Region, Mr Mensah said Ghana Exim Bank had conducted and concluded a feasibility study, in collaboration with the Regional Minister and the Regional Coordinating Council, for the establishment of a free zone in the region.
He expressed appreciation to the Regional Minister for his leadership and to traditional authorities for making large stretches of land available for the proposed project.
Mr Mensah said the garment and apparel sector was expected to serve as an anchor tenant for the free zone, citing the Bank’s support for a garment and apparel factory in the Northern Region as an example of the employment opportunities such an investment could create.
He expressed the hope that the next garment and apparel factory would be established in the Volta Region, creating employment opportunities across Southern Volta and surrounding communities.
He also disclosed that Ghana Exim Bank had dedicated its 10th anniversary project to the Anlo area and constructed an astroturf as part of its development support.
Mr Mensah said the Economic Forum should go beyond speeches and a communiqué by producing a credible pipeline of investment-ready projects.
He said each selected project should clearly identify its sponsor, outstanding preparatory requirements, investment needs, prospective financiers and partners, as well as a realistic implementation timeline.
He pledged that Ghana Exim Bank would support the process with capital, technical assistance and export-readiness initiatives, including financing feasibility studies and structuring public-private partnerships.
Mr Mensah said the people of the Volta Region were hardworking, the land was productive and the region’s attractions were exceptional, adding that what was required was focused leadership, coordinated investment and the discipline to follow through.
He expressed optimism about the proposed body announced by the organisers to help steer investment proposals and visions to fruition and pledged the Bank’s collaboration in turning identified opportunities into viable investments.
GNA
Edited by Maxwell Awumah/ Christabel Addo