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A new service for German companies and their local partners in Ghana has been launched to fill funding gaps that hinder commercial activities between the two countries.
The service, known as German Desk – Financial Support and Solutions, was opened in Accra in collaboration with Access Bank (Ghana) Plc, the German Trade and Industry Delegation in Ghana and the Government of Ghana represented by Finance Minister Ken Ofori-Atta and Ernest Addison, Governor of the Bank of Ghana.
The German Desk is a service for German and Ghanaian SMEs to access financial support and solutions.
This would be done via a point of contact combining all the products and services offered by Access Bank with the network and the support of the delegation of German industry and trade and the DEG.
The range of services ranges from the creation of a bank account to trade finance products and banking transactions, through credit lines or investment financing for local companies wishing to acquire German equipment.
In this way, enterprises will also be badisted in the process of preparation of foreign direct investment in Ghana and will benefit from the combined network of collaborating entities.
In his speech, Finance Minister Ken Ofori-Atta praised the initiative saying "this comes at a time when Ghana has embarked on a program of economic transformation aimed at modernizing the country and allowing it to to engage competitively with the rest of the world through trade and investment. "
For his part, Dr. Ernest Addison, Governor of the Bank of Ghana, said that the reform of the banking sector has restored confidence to foreign investors.
Why the German office
Ghana is one of the emerging economies of Africa and is becoming more and more interesting for German companies. However, limited access to attractive and tailor-made financing solutions is a major obstacle to developing exchanges between German companies and their local counterparts in emerging and developing countries such as Ghana.
The global network of German wickets extends from Peru to Indonesia and Bangladesh, via Kenya and Nigeria. The German Business Summit in Africa (GABS) paved the way for the opening of the sixth German office, the third of its kind in Africa.
Concretely, the German office Ghana will provide financing solutions to local companies wishing to acquire German equipment or use German services.
These also include financial services, such as the establishment of accounts, the provision of short- and medium-term credit lines, trade finance services and banking transactions.
Speaking at the launch of the dedicated counter, Access Bank Plc's deputy general manager, Roosevelt Ogbonna, said the initiative does not give the bank a competitive advantage in the sector, but that it does testify also its expertise in responding to customer needs. solutions based on all its operating countries.
He added, "This partnership with DEG is the first of its kind in Ghana and reflects our success in Nigeria. We leverage the global investment footprint of our partners and our strong local industry expertise to fill funding gaps that hinder business operations in Ghana and the sub-region. "
The German Desk – Financial Support and Solutions in Ghana is already the second of its kind between Access Bank and DEG.
The first has been active in Nigeria since October 2017, when the new services were very well received.
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