The Ghana Exim Bank (GEXIM) is set to commit $10 million to sustain Ghana’s position as the world’s largest exporter of yam.
Speaking to the media on the sidelines of a stakeholder forum on yam exports, Chief Executive Officer of the Ghana EximBank, Lawrence Agyinsam, said that the amount his outfit is committing to the industry will help players along the value chain boost their outputs.
“The exporters need to maintain that leadership of number one in the world and to do that EximBank is prepared to be by their side by supporting them with an amount of $10 million to help them with their pre-shipment, working capital etc,” he explained.
Data from the Ghana Export Promotion Authority (GEPA) revealed that the country’s exports of yam tubers reached a record high of US$48million for 2021.
Ghana now controls 24 percent of the US$200million global export market, growing its export value from US$38.5million in 2018 to US$48.2million in 2021.
Jamaica is Ghana’s closest competitor, ranking second in the export of yam. Its total exports were valued at US$39million in 2021.
Participant of the stakeholder forum, Kwabena Taylor who is the Executive Secretary of the Ghana Root Crops and Tubers Exporters Union, was confident that the proposed investment will help establish Ghana’s global position in yam exports.