Bank supports Africa-China trade

Stanbic IBTC Bank PLC has reiterated its commitment to the nation’s economic development by fostering international trade.

  
This was disclosed at the recent Africa China Agent Proposition (ACAP) webinar.
 
At the session, panelists discussed the challenges, which confronted Nigeria-China trade relations as a result of the COVID-19 pandemic, as well as the impact of recent regulatory pronouncements on trade between both countries.

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Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle, said the organisation remained committed to facilitating trade activities for clients even in the face of prevailing challenges.

Sogunle said ACAP was launched in May 2019 to boost trade transactions between Africa and Asia, especially China, and help customers consummate the best business deals without necessarily travelling 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 said.
   
Sogunle stressed that the Africa-China trade has the potential to create more jobs and reduce poverty. He urged participants to take advantage of ACAP for exclusive access to an array of exporters in China through an accredited agent, Zhejiang International Trading Supply Chain Co Ltd.