The Chief Executive Officer (CEO) of the Ghana Export-Import Bank (GEXIM), Sylvester Adinam Mensah, announced the commissioning of the Northshore Apparel Hub, a pivotal initiative designed to significantly bolster Ghana’s position within the global garment and apparel market. Speaking at the facility’s inauguration in Savelugu, Northern Region, on August 28, Mr. Mensah declared the project a cornerstone of Ghana’s strategic vision for economic transformation and increased export competitiveness.
“What we see today is the realization of a vision for a Ghana that produces, exports, and creates opportunities for its people,” Mr. Mensah stated, emphasizing the bank’s commitment to fostering domestic manufacturing. GEXIM’s partnership with Northshore Apparel Ghana Limited represents a crucial component of the bank’s five-year strategic plan, specifically prioritizing investment in garment and apparel manufacturing as a key driver of economic growth.
According to Mr. Mensah, the project was supported through a blended financing arrangement encompassing GEXIM’s financial resources, Germany’s Investing for Employment facility (KfW Development Bank), and equity contributions from the Northshore Apparel Ghana Limited promoters. This financing model mobilized capital to facilitate industrial development and enhance the capacity of Ghanaian manufacturers to compete internationally. The bank formally ratified its commitment through a memorandum of understanding (MOU) signed in March 2026, outlining a plan to mobilize capital to support industrial development and enhance the ability of Ghanaian manufacturers to achieve global competitiveness.
“Through a blended finance model that combines GEXIM’s support, the IFE facility of KfW Development Bank of Germany, and the equity of the project promoters, we have mobilized mission-aligned capital to accelerate industrial transformation and export competitiveness,” Mr. Mensah explained. The Northshore Apparel Hub, envisioned as a tangible demonstration of Ghanaian-owned business capabilities, will leverage the African Growth and Opportunity Act and other trade agreements to export Ghana-made apparel to international markets. Specifically, the facility is projected to generate substantial economic activity across the apparel value chain, contributing to Ghana’s broader industrialization and export agenda. The project is expected to stimulate economic growth through targeted financial and technical assistance provided by GEXIM, and Northshore Apparel, with the aim of fostering sustainable employment opportunities within the sector. Initial assessments suggest the hub will attract significant foreign investment and create numerous jobs within the apparel industry, solidifying Ghana’s role as a significant player in the global apparel market.”
In March, GEXIM signed memoranda of understanding with Northshore Apparel and four other Ghanaian companies to provide specialized financial and technical assistance aimed at increasing production and export readiness. The bank stated that this initiative reflects its commitment to empowering indigenous businesses and promoting sustainable export-led growth. The facility is anticipated to significantly bolster Ghana’s export potential and contribute to the nation’s overall economic prosperity.”
Data indicates that the Northshore Apparel Hub is expected to stimulate economic activity across the apparel value chain while supporting Ghana’s broader industrialization and export agenda. The project represents a significant strategic move by GEXIM to bolster Ghana’s position within the global apparel market.
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Source: MyJoyOnline
