Heritage Securities (HS) a Ghanaian licensed investment banking firm is partnering the United States Friendship and Economic Development Group (US FED Group) to provide trade and project financing, aimed at establishing trade relations between entities of the two countries for rapid economic development.
As a first step, the US FED Group has launched a trade hub, the first in West Africa to provide the platform for both public and private entities outside of the U S to engage and benefit from the various financing models made available by the group.
According to the Managing General Partner of the Group, Mark Darko, this is in furtherance of the policy of the Presidents of Ghana and the U S to engage in trade with the world as against aid.
“We bring this wonderful policy into reality; perfect timing can’t be overemphasised,” he stated.
Explaining the modalities for the arrangement, Darko said the consortium was capable of funding projects in excess of US$300 million, but such projects must source all their project needs from the U S aside presenting bankable and profitable projects proposals.
He said, in addressing the challenge of businesses, the partnership will bring in the funds needed for project and trade finance “at any amount”, while entities stand to benefit from low interest rates available on the US market.
He hinted of another trade hub to be opened in Kumasi to serve the northern part of the country.
A businessman who has successfully struck a deal of up to US$300million by applying to the consortium, Dr Prince Kofi Kludjeson, said his partnership with the US FED Group has been beneficial.
He announced the launch of one village; one wifi project to provide connectivity to every part of the country as he seeks to build a digital and knowledge based economy.
Chairman of Heritage Securities, Gideon Quist expressed the FED Group’s readiness to establish trade instruments for the importation of any item from the US.
“You don’t need cash capital, everything will be underwritten”, he emphasised.
By Godfred Tawiah Gogo