AmCham Ghana Engages President And Board Chair Of U.S. EXIM Bank

The American Chamber of Commerce, Ghana, under the auspices of the U.S. Embassy in Accra, on Monday, October 30, 2023, had an engagement with the President and Chair of the Board of Directors of the Export-Import Bank of the United States, Reta Jo Lewis, for a discussion on financing options and the current state of the business climate.

The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.

Reta Jo Lewis noted that the United States views Ghana as a reliable partner for development and intends to expand engagements to drive growth. She noted that the Bank has had a long relationship with the country and the continent at large, and its continued presence reaffirms EXIM and the United States’ commitment to maintaining relations with Ghana.

The engagement explored ways the Bank can assist companies with resources and technical support to leverage opportunities such as the African Growth and Opportunity Act to drive exports.

Discussions also focussed on exchanging best practices to properly position local firms to be compliant to improve the ease of doing business with the United States.

Backed by the full faith and credit of the United States, EXIM assumes credit and country risks that the private sector is unable or unwilling to accept. The agency’s charter requires that all transactions it authorizes demonstrate a reasonable assurance of repayment; EXIM consistently maintains a low default rate and closely monitors credit and other risks in its portfolio.

EXIM officials present at the meeting also noted that contrary to popular notion, the Bank does not only finance big-ticket projects and companies but serves businesses of sizes, including small and medium-scale entities.

This meeting was attended by AmCham Ghana Board member Kimathi Kuenyehia, Executive Secretary Simon Madjie, Manager for Membership and External Relations, Jane Okyere-Aduachie, representative from the U.S. embassy in Ghana, including DCM Rolf Olson, Commercial Counselor Dean Matlack, Jillian Foerster, Paa Ekow Quansah.

Also present was Nana Osei Bonsu, PEF CEO and Board Member of Ghana EXIM, representatives from AmCham Ghana member companies, and some executives from the U.S. EXIM, including Hazeen Ashby, Acting Senior Vice President and Chief of Staff, Christopher Organ, Confidential Assistant, and Dan Tobin, Managing Director.

AmCham Ghana Hosts 2019 U.S. Ghana Business Reception In Honor Of Nancy Pelosi

Monday, July 29, 2019. The American Chamber of Commerce, Ghana, organized the 2019 AmCham U.S. – Ghana Business Reception to host the U.S. Congressional delegation led by Nancy Pelosi, Speaker of the United States House of Representatives. The event was part of Nancy Pelosi’s visit to the country to hold high-level discussions with Ghana’s President, Speaker of Parliament, and other senior government officials and was attended by the United States Ambassador to Ghana, Stephanie S. Sullivan, the Minister for Trade and Industry, Alan Kyerematen, AmCham Ghana Members and associates.

Remarks by Joe Mensah, President of AmCham Ghana

Joe Mensah, in his opening remarks, highlighted the important relationship between Ghana and the U.S. as well as the contribution of AmCham to the Ghanaian economy.

He stressed the need for a conducive environment to attract investors and called on American companies to take advantage of the common language and similarity of laws between Ghana and the U.S. to invest in infrastructure development in the country. According to him, American companies could instill discipline to reduce the level of corruption which has been the bane of the African continent for a long time.

He commended Speaker Pelosi for her good works at the U.S. Congress and stressed the need to further improve the relationship between Ghana and the United States.

 

Remarks by Stephanie S. Sullivan, United States Ambassador to Ghana

Ambassador Sullivan remarked that Speaker Pelosi has long been engaged in building the framework of U.S.-Africa foreign and commercial relationships from the original enactment of the African Growth and Opportunity Act (AGOA) to its ten-year extension in 2015.

She highlighted the role of the Congressional Black Caucus in the development of African countries and underscored the investments and values of American companies in Ghana.

She went on to commend the leadership of AmCham Ghana for the advocacy work in advancing policies that create jobs and spur economic growth in both Ghana and the U.S.

 

Remarks by Nancy Pelosi, Speaker of the House of Representatives in the United States

House Speaker, Nancy Pelosi introduced the members of her delegation and expressed her appreciation to the leadership and members of AmCham Ghana. She stated that AmCham is another arm of diplomacy for the U.S. and a representation of America’s private sector in Ghana -that interacts with the private and public sector.

She highlighted the importance of the historic friendly relationship between Ghana and the U.S., stating that Ghana is a very special country to the United States. She further stressed the importance of the role of AmCham to the economic relationship between Ghana and the United States and finally called for infrastructure investment to address climate change.

 

Remarks by Karen Bass, Chairwoman of the Congressional Black Caucus

Karen expressed her excitement about the trip to Ghana and noted that the work of the Congressional Black Caucasus in Africa is to ensure that the U.S. views Africa as a continent and a partner, and promote U.S. business involvement on the continent. She noted that the Congressional Black Caucus has worked on legislation which will facilitate business opportunities in Africa for businesses in the United States.

The meeting ended on a high note as Nancy Pelosi and the Congressional delegation danced to some Ghanaian music. The leaders of AmCham also presented gifts to Speaker Pelosi and members of the Chamber had the opportunity to interact with the Congressional delegation and dignitaries in attendance.

 

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