The Chief Executive of the Ghana Association of Bankers (GAB), John Awuah says, financing for banks is difficult to come by, thus trade financing in Africa is the surest way of helping businesses access easy funds to import or export their goods.
Mr. Awuah made this known at a training organised by the Ghana International Bank (GHIB) for about 60 bank representatives within Africa.
The training was geared towards facilitating international trade and financing among the banks, which also forms part of efforts to deliver banking services in Ghana.
“The finance is not readily available in many places. The good thing about trade is it makes transaction costs a bit manageable because it is cheaper compared to conventional financing where cash changes hands right from origination.
So trade finances provide that bridge that enables businesses to access financing in a more cost effective way,” Mr. Awuah stated.
The four-day workshop focused on 4 -key areas which are Correspondence and Corporate banking, Treasury Transactional Banking Services, and International Trade Financing.
