Stanbic Bank Botswana has put out an initiative to ease cash flow for importers by providing expert financial support.
The scheme dubbed 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.
“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,” said Stanbic Bank Head of Personal and Business Banking, Chiko Manokore on Friday.
Manokore said the program also empowers importers with insight and control of the entire importing and logistics process.
The program has been jointly designed by Stanbic Bank Botswana, its parent company Standard Bank Group and the Industrial Commercial Bank of China (ICBC).
Manokore said the initiative core target is to have manufactures value chain up and running during and after COVID-19.
“We believe businesses across Botswana need as much support as possible to ensure continued sustainability in operations,” he said.
The offering seeks to deepen trust in Africa-China trade relationships, while guaranteeing local importers access to suppliers in China.
Manokore said 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.
“This strategic trade partnership aims to unlock the potential of this key sector to benefit the economy in the long-term,” Manokore said. Enditem