Stanbic Bank Botswana Facilitates Ease of Trade Between Local Importers and Chinese Markets

Stanbic Bank Botswana this week launched its Africa China Agent Proposition (ACAP,) which aims to assist Botswana’s importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China. The initiative provides access to a universe of Chinese suppliers and eases the cash flow of importers by providing expert financial support and empowering importers with insight and control of the entire importing and logistics process. The programme has been jointly designed by Standard Bank Group, which Stanbic Bank Botswana is a member of, and the Industrial Commercial Bank of China (ICBC).

Building on Standard Bank Group’s long-standing expertise and heritage in Africa, Stanbic Bank will facilitate the following:

• Connecting clients with reputable Chinese importers

• Providing assistance to navigate the regulatory requirements

• Assisting to overcome language barriers through access to Mandarin-speaking agents.

• 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

Said Stanbic Bank Head of Personal and Business Banking, Mr. Chiko Manokore, “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. We are a partner for growth. This 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.”

The offering - underpinned by a letter of credit – seeks to deepen trust in Africa-China trade relationships. It further works to guarantee local importers access to the best suppliers in China, the best payment terms and the best quality

Stanbic Bank acknowledges the role both Botswana and China play in expanding each other’s economic capacity and unlocking their potential to prosper through international trade and is committed to driving Botswana’s growth. This strategic trade partnership aims to unlock the potential of this key sector to benefit the economy in the long-term.