GCB Bank PLC is strengthening its role as a key facilitator of international trade across Africa, leveraging collaborations with Afreximbank, the Ghana Export Promotion Authority (GEPA), and the Nigeria Export-Import Bank (NEXIM) to help Ghanaian exporters adapt to the African Continental Free Trade Area (AfCFTA).
At the recently held Intra-African Trade Fair (IATF 2025) in Algiers, Africa demonstrated its trade aspirations on an unprecedented scale. Featuring 20 Heads of State, 132 participating nations, and $48.3 billion in trade and investment agreements announced, the event broke previous records and strengthened the momentum of AfCFTA.
However, despite the overall size, one notable gap emerged: the limited presence of African commercial banks and Development Finance Institutions (DFIs). Prof. Benedict Oramah, President of Afreximbank, called for increased involvement from the continent's financial institutions to serve as the foundation for trade within Africa. For GCB Bank, Ghana's leading local bank, this appeal represents both an opportunity and a duty.
Ghanaian exporters must not fall behind as their rivals expand," said Aurelia Baaba Ofori Odame, Head of GCB’s SOE and Afro-Asia Unit. "Our responsibility is to make sure they are prepared; by providing access to funding, smooth transactions, and direct connections to buyers throughout the continent.
GCB has already set itself apart as a leader in trade payments, being the first bank in Africa to execute a transaction through the Pan-African Payment and Settlement System (PAPSS). Currently, PAPSS is incorporated into the Bank’s mobile application, offering businesses an easy and secure method to conduct cross-border transactions without the complications of currency exchanges or delays.
The Bank's vision, nevertheless, extends beyond payment services. Leveraging insights from IATF, GCB is progressing to develop customized solutions including factoring, supply chain financing, and a specialized AfCFTA Export Desk to assist Ghanaian enterprises.
In collaboration with Afreximbank, exporters obtain access to trade assurances and tools such as MANSA (a pan-African customer verification database for financial institutions, companies, and SMEs) and AfrexInsure, while GEPA assists with market access and NEXIM enhances trade routes between Ghana and Nigeria.
Nigeria topped the deal volumes at IATF 2025, indicating that Ghanaian exporters need to accelerate their efforts. With the most extensive branch network across the country and an expanding online presence, GCB is establishing itself as Ghana's leading trade bank, one that not only supports exports financially but also promotes policies that lower obstacles for SMEs and enhance regional competitiveness.
In Ghana, the situation is evident. AfCFTA has created a marketplace for 1.4 billion people, yet exporters will only succeed if they have a robust financial system supporting them. GCB Bank is entering this space, connecting opportunity with action.
GCB Bank stands as a prominent institution in Ghana's banking sector, operating 184 branches and 340 ATMs, along with a range of advanced digital services. As the bank with the most extensive branch system in Ghana, GCB Bank is deeply connected to numerous communities, offering not just routine financial services but also essential social assistance.
As the leading local bank in Ghana, GCB has played a major role in assisting individuals, small and medium enterprises, corporations, and organizations to attain financial stability and fulfill their banking requirements since its founding in 1953. The Bank maintains a relationship with its customers and other stakeholders based on trust, support, and cooperation, guided by its brand commitment, "Your Bank for Life."
Provided by SyndiGate Media Inc.Syndigate.info).
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