Ghana International Bank is best in trade finance
Ghana International Bank (GHIB) has been adjudged the Best African International Trade Finance United Kingdom Award for 2017.
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The bank won the award from the Capital Finance International (CFI.co), a leading print journal and online business, economics and finance reporting organisation based in the United Kingdom.
GHIB came tops after several other African trade finance providers in the United Kingdom were considered.
Commenting on the award, Mr Joe Mensah, CEO of GHIB, noted that “we are pleased that our contribution to trade finance in Africa has been recognised.”
“Offering trade finance to African financial institutions and corporates is GHIB’s core mandate, which it has effectively delivered over the years,” he said.
He added that the bank would continue to apply technology and broaden its suite of products to ensure relevance in its chosen markets.
While GHIB maintains a full suite of products and services, the bank historically gravitates towards facilitating international trade and business.
GHIB was an early adopter of fin-tech and maintains a leading edge in order to significantly speed up the processing of trade document flows.
The bank has long been recognised and used by the prestigious Ghana Cocoa Board, which regulates the world’s largest sellers of cocoa beans.
GHIB has, over the past few years, been a mandated lead arranger in the flagship African soft commodity syndication for Ghana Cocoa Board. It has, in addition, been the disbursement and collection agent for the past 22 years for this deal.
The bank has established a spotless track record and reduced the transit and processing time of trade documents from two months to barely three days, streamlining and adding agility to a previously cumbersome set of procedures.
In arriving at this conclusion to award GHIB, the judges said “offering African businesses a window to global markets and a world of opportunity, GHIB supports and underpins trade flows and cross-border deals.”
The CFI.co judging panel notes that large corporates with interests in Ghana have beaten a path to GHIB in recognition of the bank’s forward-looking approach, personalised services, and dedication to operational excellence and speed. GB