Banking & Finance

Ecobank is Ghana’s best trade finance provider

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Ecobank Ghana, part of the leading pan-African banking Group, Ecobank, has been named Ghana’s ‘Best Trade Finance Provider 2023’.

Ecobank Ghana beat a host of other banks to win the prestigious award during the Global Finance magazine’s World’s Best Trade Finance and Supply Chain Finance 2023 Awards, held during the BAFT Europe Bank-to-Bank Forum in London.

Daniel Sackey, Managing Director, Ecobank Ghana & Regional Executive AWA, said: “We are positioning to be the preferred trade, payments and collections bank for SMEs and corporates, as we support and facilitate them to grasp the immense growth opportunities created by Africa’s new single market. We are maintaining our key focus on commodities financing, improving our customers’ experience, and leveraging our digital banking initiatives. This award provides welcome public recognition of our beneficial impact and is a tribute to the hard work, diligence, dedication, and intense customer-focus of our staff on a daily basis.

In selecting Ecobank Ghana as the best trade finance provider, Global Finance’s judges took into account input from industry analysts, corporate executives and technology experts. Criteria for choosing the winner included transaction volumes, scope of global coverage, customer service, competitive pricing, and innovative technologies.

Ecobank Ghana provides comprehensive trade solutions to its customers, using various payment methods to facilitate cross-border and domestic trade throughout and beyond its network across Africa. Ecobank offers unique intra-Africa trade solutions, enabling its customers to settle their domestic and international trade transactions efficiently while mitigating payment risks. Ecobank works closely with clients in reviewing key aspects of transaction processing, including Settlement, Financing, Risk Mitigation, Credit Enhancement, and applicable Exchange Control Regulations.

Its Trade Products and Solutions include Structured Trade & Commodity Finance (customers benefit from adequate, mitigated credit facilities); Trade Services (customers experience speedy turnaround and error-free processes); Supply Chain Finance (one-stop end to end value chain and supplier financing locally and across regional corridors). Trade services provided include import/export Letters of Credit; import/export collections; bills avalisation (SBLCs, guarantees, bid, performance and other bonds; regional trade payments); Rapidtransfer (cross-border remittances); and international payment services.

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