Ghana: Export strategy to cost US$500m
The country’s chief exports promoter however expressed optimism that establishment of Exim Bank Ghana will aid the country’s effort to leverage funding for the US$500m National Export Strategy.
The Export Strategy is under the auspices of GEPA and intended to boost local produce globally, so as to shore-up the country’s foreign revenue.
In August 2013, government launched the National Export Strategy (NES) aimed at raising the level of export proceeds from the Non-Traditional Export to US$5billion by the year 2019.
The cabinet has approved the National Export Strategy to diversify Ghana’s exports by increasing the share of Non-Traditional Exports (NTEs) in the export base.
The strategy will also lift NTEs by 35% within the next five years. The target of this strategy is to take the current level of NTEs from US$1.5billion to US$5billion within the period.
By the close of the year 2015, the sector is expected to yield US$2.6billion -- about 3.4% above the earnings of 2014 (US $2.514billion).
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