NewzThe Chief Executive Officer (CEO) of the Ghana Export-Import Bank (GEXIM), Sylvester Adinam Mensah, says the bank has redefined its lending framework to prioritise commercially viable projects capable of delivering significant economic impact. Speaking at the commissioning of the Northshore Apparel Hub in Savelugu in the Northern Region on Friday, August 28, Mr Mensah said the bank’s financing decisions were guided by development outcomes rather than sentiment. “Ghana EXIM Bank has reset and redefined its lending scope, consistent with the President’s vision.
It does not lend based on sentiment,” he stated. According to him, every financing facility provided by the bank involves allocating scarce public resources to projects with the potential to create jobs, expand production and strengthen Ghana’s export capacity. “Behind every facility we extend is the placing of scarce resources where their impact can be significant,” he said.
On the establishment of the factory, Mr Mensah explained that Northshore Apparel Ghana Limited was among several businesses that approached GEXIM for assistance, but its proposal presented a compelling investment case. “Northshore Apparel came in like many others, but few made arguments as compelling as this one. We are proud to have seen the potential, we are proud to have supported them, and we are encouraged by what we see,” he said.
The Northshore Apparel Hub was supported through a blended financing arrangement involving GEXIM, the Investing for Employment facility of Germany’s KfW Development Bank and equity contributions from the project promoters. Mr Mensah said the financing structure mobilised purpose-driven capital to accelerate industrialisation, create sustainable employment and enhance Ghana’s competitiveness in the international apparel market. The investment also aligns with GEXIM’s five-year strategic plan, which identifies garment and apparel manufacturing as a key sector for economic transformation.
In March 2026, GEXIM signed a memorandum of understanding with Northshore Apparel and four other Ghanaian companies to provide targeted financial and technical support to improve production and export readiness. Mr Mensah said the commissioning of the factory demonstrated the results Ghana could achieve when financing was channelled into productive local enterprises with strong development and export potential. Speaking at the commissioning of the facility in Savelugu in the Northern Region on Friday, August 28, Mr Mensah said the project represented a major step towards expanding domestic garment production and increasing Ghana’s export competitiveness.
“What we see today is the realisation of a vision for a Ghana that produces, exports and creates opportunities for its own people,” he said. According to him, GEXIM’s partnership with Northshore Apparel Ghana Limited forms a key component of the bank’s five-year strategic plan, which identifies garment and apparel manufacturing as an important driver of economic transformation. “GEXIM’s partnership with Northshore Apparel is a cornerstone of our five-year strategic plan, a plan which prioritises strategic investment in garments and apparel manufacturing as a key driver of economic transformation,” he stated.
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