Ecobank to Expand Regional Import, Export Frontiers

February 25, 2020
Ecobank to Expand Regional Import, Export Frontiers

By Adedapo Adesanya

One of Africa’s regional banks, Ecobank, has announced its readiness to host Nigeria’s 2020 Regional Trade Forum that will help enhance importation and exportation as a part of a driving forward country’s economy.

The forum will hold in March and will see exporters and importers from across the African continent meet in Lagos for a two-day event where they can exhibit their products in a market place model and also feature panel discussions and presentations from experienced stakeholders in the industry.

Speaking on the trade forum, Mr Sunday Abah, the Head of Trade Finance, Ecobank Nigeria, said that the bank saw the forum as a step to unveil its comprehensive trade solutions to existing and prospective customers by sharing the various payment methods available to facilitate cross border trade throughout its network across Africa.

“By creating a networking forum for importers and exporters via the trade exhibition slated for the first day of the forum, the bank extends support to stakeholders in export and import businesses.

“Ecobank’s trade products and solutions are designed around two broad areas: trade finance which enables customers benefit from adequate and well mitigated credit facilitation in the area of import finance, export finance, bill discounting, trade loans, distributor finance, structured trade and commodity finance amongst others; also we do trade services, which gives our customers the advantage of speedy turnaround time and error free processing of import letters of credit, import collections, customs bonds, export collections and regional trade services amongst others,” he said.

According to him, the bank also recognized the role of exporters and importers in driving economies through trade and through this platform, it would provide regional solutions and enable exporters obtain payment guarantees without the need for a letter of credit and its related costs to the importer.

Mr Abah further disclosed that the bank was working closely with clients to review key factors regarding transactions processing, settlements, financing, and risk mitigation as well as credit enhancement.

“The bank boasts of a unique and large Pan-African platform that positions it to support trade at all levels.  Its technology platform is designed to help unlock the opportunities of the continent through standardization across 33 countries, while fuelling regional integration, trade and investment across borders,” he added.

The Ecobank Africa Trade Forum is expected to attract hundreds of guests and participants. According to Mr Abah, leaders from across Ecobank Group and other fields will share their market specific trade knowledge and information.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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