30 Apr 2020

Stanbic Bank Botswana has launched its Africa China Agent Proposition (ACAP). The initiative aims to assist Botswana’s importers to source quality goods, safely and efficiently from competitive suppliers in China.

A press release from the bank says the initiative provides access to Chinese suppliers and eases the cash flow challenges of importers through expert financial support.

The arrangement also empowers importers with control of the entire importing and logistics process.

China-Africa relations have been marked by advancements in trade and cultural exchanges over the past two decades, says the release.

However, Stanbic Bank notes that the outbreak of COVID-19 has greatly affected global trade.

It further says due to Africa’s trade partnerships with China, concerns have been raised about African countries’ ability to trade with China during and post COVID-19.

“ACAP is revolutionising the way in which African businesses import from China as one possible solution to the challenges faced by importers and businesses in Botswana wanting to trade with China,” says the media release.

Building on Standard Bank Group’s long-standing expertise and heritage in Africa, Stanbic Bank will facilitate, among others, negotiating prices on behalf of clients, connecting clients with reputable Chinese importers, providing assistance to navigate the regulatory requirements and assisting to overcome language barriers through access to Mandarin speaking agents, says the release.

Furthermore, it states that Stanbic Bank head of personal and business banking, Mr Chiko Manokore was quoted saying, ‘as Stanbic Bank Botswana, our clients remain at the centre of everything we do, as we strive to seamlessly deliver holistic, relevant financial services offerings through relevant and value-adding channels’.

Mr Manokore further says ‘we are a partner for growth and we are working to support our clients in keeping their supply chains strong during this time of increased uncertainty brought on by the COVID-19 pandemic’.

The release says the initiative provides the foundation of long-term, mutually beneficial and sustainable trade relationships, equipping local importers with the tools to navigate both the simple and complex aspects of doing business in China.

“This is a difficult period for everyone, and we believe businesses across Botswana need as much support as possible to ensure continued sustainability in operations. We want to help where we can and this is one demonstration of that,” he said. Ends