In a bid to deepen and promote trade between Ghana and Germany, the German Desk Ghana – Financial Support and Solutions service centre has been set up in Accra.
The value of trade between Ghana and Germany last year stood at $30 million, Access Bank Plc said.
A partnership between Access Bank (Ghana) Plc., DEG DeutschInInvestitionsInvunditionschaft and the Delegation of German Industry and Commerce in Ghana (AHK), the German Desk Ghana – Financial and Solutions would be hosted by Access Bank (Ghana) Plc.
The German Desk Ghana, a third to be established in Africa after Kenya, Nigeria and sixth in the world, will provide financial services and solutions for local companies wishing to acquire German equipment or use German services.
They include financial services such as setting up accounts, providing short to medium-term credit lines, services for financing trade and transaction banking.
Speaking at the official launch of the German Desk Ghana, the Finance Minister, Ken Ofori-Atta said the German Desk Ghana demonstrated the growing trade and economic cooperation between Ghana and Germany.
“The German Desk Ghana is a great platform and signifies the robust economic and trade relationship between Ghana and Germany,” he said.
Mr Ofori-Atta said the German Desk would help cascade private sector growth and job creation to address unemployment in the country and lauded the partners for the initiative.
He said the country had been put on the path of stability with inflation and interest rates trending down, adding that, that was among the reasons why the country had become attractive to foreign investors.
Mr Ofori-Atta said the government was excited about the economic gains made so far and would continue to put measures in place to sustain the macroeconomic economic fundamentals.
The Governor of the Bank of Ghana, Dr Ernest Addison for his part said the German Desk Ghana was another milestone in the Ghana German economic relationship, indicating that economic and trade relationship between the countries date back to the 1960s.
“Ghana`s continued economic and trade partnership with Germany has been exemplified by the German Desk Ghana,” he said.
Dr Addison said the Desk would help facilitate trade between the countries and also expose business operators in both countries to the business and investment opportunities that exist in Ghana and Germany.
The German Federal Minister for Economic Cooperation and Development, Dr Gerd Muller in his remarks said the German Desk Ghana formed part of the new strategic direction of Germany to deepen economic trade relations with African countries, especially Ghana.
He said Ghana was a beacon of hope for Africa with its growing democratic and economic stability.
Dr Muller pledged Germany`s continuous cooperation with Ghana especially in the areas of vocational and technical education, stressing Germany was already supporting Ghana on vocational and technical education.
The Deputy Group Managing Director of Access Bank Plc., Roosevelt Ogbonna said the initiative did not only give the bank a competitive advantage in the industry, but also goes to show the bank`s expertise in providing customer need-based solutions across all its operating countries.
“This partnership with DEG is the first of its kind in Ghana and mirrors our successes in Nigeria. We are leveraging on the investment footprints of our partners and our strong local industry expertise to close the financing gaps hampering trade activities in Ghana and the sub-region,” he said.
By Kingsley Asare
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