Ghana Exim Bank yet to recover GHS 55m overdue loans to businesses
The Ghana Exim Bank has made significant progress in its efforts to recover overdue loans, according to its CEO, Lawrence Agyinsam.
Speaking at a recent public hearing, Agyinsam revealed that the bank had retrieved over GHS 47 million from various commercial banks.
The loans, which were given to small and medium-sized enterprises, originally had a total debt of over GHS 100 million.
Agyinsam stated that the bank is still working to collect the remaining GHS 55 million and that negotiations are underway to restructure the loans.
He noted that the Bank of Ghana had requested that the bank find an alternative resolution, leading to talks with the commercial banks in question.
The Ghana Exim Bank was created to support and develop trade lines for commercial banks that support Ghanaian businesses, with the goal of transforming Ghana’s economy into an export-driven one.
These recent efforts by the bank demonstrate its commitment to fulfilling its mission and ensuring the success of Ghanaian businesses.
