Maritime Development Key to Africa's Economic Transformation, Says GEXIM Deputy CEO

Africa must prioritize investment in its maritime sector to unlock economic transformation and enhance trade competitiveness, according to Moses Klu Mensah, Deputy Chief Executive Officer of the Ghana Export-Import Bank (GEXIM).

Speaking at the Maritime Trade Fair in Accra, Mensah, who represented GEXIM CEO Sylvester Adinam Mensah, underscored that the maritime sector serves as a critical gateway for industrialization, export growth, investment attraction, and job creation. He urged that it be treated as a national and continental priority.

The GEXIM official emphasized that a robust maritime economy connects producers to markets, supports trade flows, enables industrial production, and directly influences the cost of doing business. He noted that efficient ports, dependable logistics, affordable financing, responsive regulations, and modern technology are essential for building a strong export economy and ensuring Africa's competitiveness within the African Continental Free Trade Area (AfCFTA).

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The maritime sector remains a critical gateway for industrialisation, export growth, investment attraction and job creation, and must therefore be treated as a national and continental competitiveness priority.

Mensah identified finance as a key driver for maritime growth, stating that exporters, logistics firms, and technology providers all require access to capital. He highlighted GEXIM's role in not only providing finance but also in helping businesses prepare for export markets. The Deputy CEO also stressed the importance of aligning regulation, infrastructure, and investment to reduce bottlenecks and facilitate the smooth movement of goods.

Furthermore, Mensah pointed to technology's role in improving efficiency, transparency, and risk management in the maritime sector. He suggested that digital solutions can significantly enhance cargo tracking, customs processing, payment systems, and access to trade information, ultimately reshaping the industry and creating new opportunities.

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Efficient ports, reliable logistics systems, affordable financing, responsive regulation and modern technology were essential for building a strong export economy and ensuring Africa’s competitiveness under the African Continental Free Trade Area (AfCFTA).