Saturday, December 3, 2022

Stanbic Bank connects customers to Africa-china trade through ACTS

GABORONE – In working to seamlessly connect customers to Africa-China Trade and opportunities, Stanbic Bank Botswana has launched the Africa China Trade Solutions (ACTS) facility, an exciting new development that brings a veritable gateway to China for enhanced business.  ACTS aims to assist Botswana’s importers’ source and validate quality goods, safely and efficiently, from the most competitive Chinese suppliers. This new initiative comes in response to the challenges faced by local importers, as well as in light of the vast opportunities that China presents as a trading partner to Batswana. 

ACTS is made possible through Standard Bank Group’s partnership with the world’s biggest bank, the Industrial and Commercial Bank of China (ICBC), as well as a vetted Import Partner. Stanbic Bank sets out to provide clients with an unrivalled competitive advantage for Africa China trade in Botswana and this is now a stronger reality than ever before.

Said Stanbic Bank Botswana Head of Business and Commercial Clients (BCC), Calistas Chijoro, “This has been a great project in the making, and we are pleased to now bring this to market. ACTS deepen trust in Africa-China trade relationships, guaranteeing local importers access to a wide range of suppliers in China, be able to negotiate payment terms and find the right quality goods. As such, the offering will place Botswana importers in a trusted and confident position when it comes to the price, quality and navigating through the international trade dynamics of importing Chinese goods.

The offering will assist Stanbic Bank Botswana clients with:

§  Connecting with reputable Chinese importers/buyers for Export

§  Providing assistance to understand the regulatory requirements

§  Assisting to overcome language barriers through access to Mandarin-speaking trade partners

§  Sourcing and confirming goods of the required quality

§  Negotiating prices on behalf of clients

§  Issuing Letters of Credit and Guarantees

§  Providing access to Renminbi currency to reduce multiple currency conversions

Further to this, the Bank also launches TradeClub, a digital platform that offers clients access to other markets beyond the ACTS facility. TradeClub assists local importers with access, assessments, and communication with suppliers and vendors, and manages the process of importing quality goods and services efficiently and safely. It further allows vetted clients to be listed as exporters and be able to connect with potential customers across more than 50 jurisdictions worldwide. The solution is offered free of charge (terms and conditions apply) and is a testimony of Stanbic Bank’s focus on supporting Small, Micro and Medium Enterprises (SMMEs) to enable them to grow by accessing more markets and more suppliers through the secure TradeClub.

Features of TradeClub include:

  • Alternative markets for one’s products as well as extensive research on these markets;
  • Online trade missions for networking purposes; and
  • A network of over 17,000 pre-vetted suppliers and buyers across 50 countries.                                                                                     

 “We are constantly looking for new ways to add value for our clients. With businesses the world over still reeling from the effects of the COVID-19 pandemic , this is no different in Botswana. Thus, we recognise the need to do things differently and earnestly secure new markets and opportunities. The Stanbic Bank Botswana TradeClub is yet another demonstration towards realising this goal. The TradeClub offers a suite of solutions designed to enable business growth despite the systemic and non-systemic restrictions arising from the pandemic which had substantial impact on business operations”, Chijoro added.

Stanbic Bank continues to work to seamlessly connect customers to Africa-China Trade and create platforms designed to unlock possibilities and drive Botswana’s growth. In the spirit of It Can Be, ACTS and TradeClub are just two notable developments designed for progress in transforming dreams into lasting realities.

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