By Our Front Desk
As Ghana seeks to expand its footprint in regional and global markets, trade finance has emerged as a critical tool for enhancing the competitiveness of local exporters.
Industry experts say access to financing, insurance, and credit guarantees can help Ghanaian businesses scale production, improve quality, and navigate international trade challenges.
Appiah Boi Mensah, Trade Finance Manager at a leading Ghanaian bank, emphasized that small and medium-sized enterprises (SMEs), which form the backbone of the country’s export sector, often face liquidity constraints that limit their ability to meet demand.
“Without adequate trade finance, exporters struggle to purchase raw materials, maintain inventory, and ship products on time,” he noted.
Recent data from the Bank of Ghana indicates that trade finance instruments, including letters of credit, export credit insurance, and supply chain financing have supported over 1,200 exporters in 2025, helping them reach markets across West Africa, Europe, and Asia.
Experts say such tools are especially vital for sectors like cocoa, cashew, palm oil, and processed food, where timely delivery and quality assurance are non-negotiable.
Ms. Lydia Adom, CEO of GreenHarvest Exports Ltd., highlighted the transformative impact of trade finance on her business.
“With access to export credit facilities, we’ve been able to expand our cashew processing capacity by 30 percent. This has allowed us to meet international standards and secure contracts with buyers in the EU and Middle East,” she explained.
Government initiatives are also supporting the growth of export finance. The Ministry of Trade and Industry recently partnered with commercial banks and international development agencies to launch the Export Growth Facility, a fund aimed at providing affordable financing to SMEs.
According to officials, the program targets exporters who lack collateral or traditional banking history but have strong growth potential.
Analysts say improving trade finance access is not just about credit. It also involves building financial literacy among exporters, streamlining documentation, and integrating digital platforms for efficient payment processing.
Mensah added, “Digital tools are reducing transaction times and costs, making it easier for Ghanaian exporters to compete with regional and international counterparts.”
However, challenges remain. Currency volatility, high-interest rates, and limited awareness of trade finance products continue to restrict participation.
Experts advocate for stronger collaboration between banks, government agencies, and industry associations to address these barriers and unlock the full potential of Ghana’s export sector.
With regional trade agreements like the African Continental Free Trade Area (AfCFTA) gaining momentum, access to trade finance is expected to play an even greater role in positioning Ghana as a reliable exporter in West Africa.
By combining financial support, capacity building, and technology, industry players are optimistic that Ghana cannot only increase export volumes but also move up the value chain.
