Exim Bank confirms ambassadorial contracts with Shatta Wale, Agya Koo

Exim Bank confirms ambassadorial contracts with Shatta Wale, Agya Koo for the bank.

Adepanews.com had earlier reported that Shatta Wale and Agya Koo were allegedly involved a $2 million deal to serve as brand ambassadors for Exim Bank some years ago.

This comes after the Public Account Committee of Parliament called officials of Ghana Export-Import Bank (GEXIM) to answer questions on the amount of money paid to popular dancehall musician, Charles Nii Armah Jr. aka Shatta Wale and other artists as brand ambassadors.

Member of Parliament (MP) for Kumbungu Constituency, Mr. Ras Mubarak raised the issue during PAC sitting on the reason why the state-owned Bank would pay such huge sum of money to the artists as ambassadors for made in Ghana goods and what Ghana stand to gain from these brand endorsement.

In a statement,Ghana Export-Import Bank (GEXIM) has confirmed the deal but says the about mentioned was different.

He also disclosed that the company has already paid 15% of the actual worth of the respective contracts to the personalities.

In a statement, the bank said the pair were contracted as influencers for a campaign to promote the production of local products and services to enhance export revenue generation. The campaign dubbed ‘Made-In-Ghana 4P’ was launched on Sunday, August 30, 2020.

“In brief, Indeed we have signed contracts with the two artists who are renowned in their own field but they have not even started their roles. For the fact that it is a contractual agreement between two parties, we cannot disclose any content,” Mr Anane said in an interview on Joy FM.

“For the fact that it is a contractual agreement between two parties, we cannot disclose any content.”

“We have signed a contract with the two artists, we have contract obligations, we cannot disclose the amount but all that we want to say is that the amount quoted is not correct. I can’t disclose it because of contractual obligations,” he added.

Below is the statement from the Ghana Exim Bank:

Dear News Editor;

The Management of GHANA EXPORT-IMPORT BANK‘s attention has been drawn to varied reportage in the news media about the payment to the tune of GHS 2 million to Brand Ambassadors.

We wish to state categorically that no amounts of such magnitude have been paid to any Ambassador or Influencer.

We further wish to state that, the Bank was invited by the Public Accounts Committee of Parliament to appear before them on Wednesday, 9th September, 2020, to answers certain questions pertaining to the operations of the Bank between 2015 to 2017.

The issues raised by the Auditor-General’s Report within the stated period did not feature any item on the Bank’s intended campaign to promote Made-In-Ghana products.

However, as a forward looking development and policy bank, we seek to invest in our people and businesses while projecting our very essence as a brand that facilitates international trade for and on behalf of Ghana.

Our strategic interventions in Ghana’s economy can be ascertained in the number of Projects and initiatives that have been funded since 2017.

We would like to state that, part of GEXIM’s mandate is to assist in the promotion of locally-produced goods and services to enhance export revenue generation, help reduce import, add value to raw materials for export, and create employment in the country.

In view of this national call, the Bank on Sunday, August 30, 2020, launched a campaign dubbed: Made-in-Ghana 4P. The 4P stands for encouraging Ghanaians to Produce, Promote and Purchase Made-in-Ghana products and services so we can Prosper as a people and nation.

To give this campaign a higher scale and in consonance with promoting Made-In-Ghana products and services, the Bank while following the requisite laid down procurement procedures, have contracted renowned Ghanaian Artistes as Brand Ambassadors and Influencers.

These Artistes are Mr. Kofi Adu (Agya Koo) and Nii Armah Mensah (Shatta Wale). They are known for their exemplary Award-winning exploits within our local Creative Arts Industry and have earned international acclaim for their craft.

Their role, simply put, is to give support, credibility and belief in the Made-in-Ghana agenda which is a personal passion point for them individually as well.

These renowned Brand Ambassadors will be using their scale, brand equity, leverages and the pool of their fan bases to garner the needed acceptance, adoption and participation by Ghanaians in the Made-in-Ghana 4P campaign so that the products of the entities that we are lending moneys can be patronized for them to pay back and also energize the whole culture of buying and using Made-in-Ghana products in the country.

The Bank has not doled out GHS2M to Shatta Wale. This allegation is factually incorrect and misleading.