Eximbank denies paying GH¢2m to brand ambassadors

September 14, 2020 By 0 Comments

Ghana Export-Import Bank

The management of Ghana Export-Import Bank has denied media reports that they have paid a whopping GH¢2 million to Brand Ambassadors. In a statement, management said no amount of such magnitude have been paid to any Ambassador or Influencer. The following is the full statement.

The Management of GHANA EXPORT-IMPORT BANK’s attention has been drawn to varied reportage in the news media about payment to the tune of GH¢2 million to Brand Ambassadors.

We wish to state categorically that no amounts of such magnitude have been paid to any Ambassador or Influencer.

We further wish to state that the bank was invited by the Public Accounts Committee of Parliament to appear before them on Wednesday, 9th September, 2020, to answer certain questions pertaining to the operations of the bank, between 2015 and 2017.

The issues raised by the Auditor-General’s Report within the stated period did not feature any item on the bank’s intended campaign to promote made-in-Ghana products.

However, as a forward looking development and policy bank, we seek to invest in our people and businesses, while projecting our very essence as a brand that facilitates international trade for and on behalf of Ghana. Our strategic interventions in Ghana’s economy can be ascertained in the number of projects and initiatives that have been funded since 2017.

We would like to state that part of GEXIM’s mandate is to assist in the promotion of locally-produced goods and services to enhance export revenue generation, help reduce imports, add value to raw materials for export, and create employment in the country.

In view of this national call, the bank, on Sunday, August 30, 2020, launched a campaign dubbed: Made-in-Ghana 4P. The 4P stands for encouraging Ghanaians to Produce, Promote and Purchase Made-in-Ghana products and services so we can Prosper as a people and nation.

To give this campaign a higher scale, and in consonance with promoting Made-In-Ghana products and services, the bank, while following the requisite laid down procurement procedures, has contracted renowned Ghanaian artistes as Brand Ambassadors and Influencers.

These artistes are Mr. Kofi Adu (Agya Koo) and Nii Armah Mensah (Shatta Wale). They are known for their exemplary award-winning exploits within our local creative arts industry, and have earned international acclaim for their craft.

Their role, simply put, is to give support, credibility and belief in the Made-in-Ghana agenda, which is a personal passion point for them individually as well. These renowned Brand Ambassadors will be using their scale, brand equity, leverages and the pool of their fan bases to garner the needed acceptance, adoption and participation by Ghanaians in the Made-in-Ghana 4P campaign, so that the products of the entities that we are lending moneys can be patronised for them to pay back and also energise the whole culture of buying and using Made-in-Ghana products in the country.

The bank has not doled out GH¢2 million to Shatta Wale. This allegation is factually incorrect and misleading. Please find attached the press release on the official launch of the campaign.


GEXIM has begun a nation-wide campaign dubbed Made-In-Ghana4P to encourage Ghanaians to support the growth and development of indigenous businesses.

The bank’s mission is to facilitate the transformation of Ghana’s economy into an export-led one, by supporting and developing trade between Ghana and other countries, and also building Ghana’s capacity and competitiveness in the international marketplace. For the past three and half years, GEXIM has been the main financial institution driving the realisation of the 1D1F Special Initiative, aimed at the socio-economic development of the country.

Why Made-in-Ghana campaign?

Part of the GEXIM’s mandate is to assist in the promotion of locally produced goods and services to enhance export revenue generation, improve import-substitution, add value, and create employment in the country. It is against this backdrop that this campaign was launched.

The aim is to encourage Ghanaians to support our own products and make local industries competitive. Hence, the campaign will focus on four thematic areas to make up the 4Ps: PRODUCE – PROMOTE – PURCHASE – PROSPER

PRODUCE: To encourage entrepreneurship amongst the citizenry by investing in the production of local goods and services.

PROMOTE: To encourage businesses in local production to promote their products and services for both local and foreign consumption.

PURCHASE: To encourage Ghanaians to choose local over foreign goods, help local businesses grow, provide opportunities, and reduce the dependency on imported goods. The more Ghanaians patronise locally produced goods and services, the more businesses will grow and provide opportunities for others, which, in effect, will put the country on track to becoming self-sufficient and relying less on imports.

PROSPER: To sensitise Ghanaians that as a nation, if we invest in local production, promote our products and purchase our own goods and services, the economy will grow, which, ultimately, make the nation prosper.

Partnership with Brand Ambassadors

As part of the campaign and in tandem with GEXIM’s support for the creative industry, the bank has contracted Brand Ambassadors and Influencers who have shown prowess in their respective fields and have interest in this campaign to help push the Made in Ghana agenda.

We also welcome and encourage others who can help in pushing this agenda to join in the campaign and drive our message even further.

Collaboration with PRINPAG

As a forward looking brand, we seek to involve key stakeholders in this national campaign; thus, we have begun a collaboration with the Executives and Editors of the Private Newspapers Publishers Association (PRINPAG), which culminated in a media encounter with the owners and editors of leading media houses to establish a reliable cooperation and collaboration. Subsequent to this encounter, and in our bid to deepen the campaign, PRINPAG, as our lead stakeholder, undertook a first in a series of a country tour of GEXIM’s financed projects in the Central Region to visit Ekumfi Fruits and Juice Factory and Casa De Ropa on August 7, 2020.

GEXIM Support

Sectors that have received financial support from GEXIM include the pharmaceutical, poultry, shea, creative arts, garments, pineapple, cassava, mango, cocoa products, and oil palm. Some of the factories that have been completed include Ekumfi Fruit and Juices, Casa de Ropa, Akro Poultry farm, Green Houses in KNUST, CUC, amongst many others.

Issued by

Head of Corporate Affairs

Ghana Export-Import Bank

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