By Ahmed Rahma
A subsidiary of Stanbic IBTC Holdings PLC, Stanbic IBTC Bank, has not seized to show its commitment to the nation’s economic growth by fostering international trade.
At the recent Africa China Agent Proposition (ACAP) webinar with the theme Advancing Africa-China Trade Opportunities, the bank disclosed its support for the Africa-China trade relations.
The challenges which confronted Nigeria-China trade relations as a result of COVID-19 pandemic and the impact of recent regulatory pronouncements on trade between both countries were discussed by the panellists during the session.
In his welcome address, the CEO of Stanbic IBTC Holdings PLC, Dr Demola Sogunle, said the organisation remains committed to facilitating trade activities for clients, even in the face of prevailing challenges.
Commenting on the launch of ACAP, Dr Sogunle said: “Stanbic IBTC launched ACAP in May 2019 to boost trade transactions between Africa and Asia, especially China, and helped customers consummate the best business deals without having to travel to China.
“These were made possible through our parent company, Standard Bank Group, in collaboration with the Industrial and Commercial Bank of China (ICBC).”
He stated that the Africa-China trade has potentials to create more jobs and reduce poverty aside growing the nation’s Gross Domestic Product (GDP).
The bank executive urged participants to take advantage of ACAP, which will give them the exclusive access to an array of exporters in China through an accredited agent, Zhejiang International Trading Supply Chain Co Ltd, also known as Guamao.
Guamao is a China-based agent appointed by ICBC and Standard Bank to assist African importers to execute trade seamlessly with China.
