Aurelia Baaba Ofori Odame with some Stanbic Bank clients at CAETE
Stanbic Bank Ghana through its parent company, Standard Bank, has supported clients from Ghana to participate in this year’s China-Africa Economic and Trade Expo (CAETE) in Changsha, China.
The expo aims at fostering direct business cooperation at the sub-national level.
Aurelia Baaba Ofori Odame, Head, Africa China Trade Banking at Stanbic Bank Ghana said the expo has consistently been pivotal in promoting China-Africa cooperation, facilitating economic exchanges, and boosting trade volumes over the years.
“Even when we couldn’t facilitate physical participation of our clients in the last two episodes due to COVID-19 restrictions, we organised virtual matchmaking sessions to create opportunities for Ghanaian traders who want to access China,” she said.
She said the initiatives are tangible demonstrations of the bank’s persistent strategy to support its clients through creating a focused trade ecosystem around the Africa China corridor.
“As a bank committed to driving Ghana’s growth by linking individuals and businesses to opportunities, we are positive the benefits garnered from expo will give practical force to the local businesses’ growth narrative,” she added.
CAETE supports the trade promotion ambitions of China-Africa Cooperation Vision 2035, announced by Chinese President Xi Jinping in his address to the Eighth Ministerial Conference of FOCAC in Senegal in 2021.
China’s President Xi explained that this would be achieved by opening ‘green lanes’ for African agricultural exports to enter China.
China would also speed up inspection and quarantine procedures while increasing the number of zero-tariff products able to enter China from least developed countries with diplomatic relations with the PRC.
Standard Bank’s Africa-China trade ability connects African clients to an extensive network of vetted export partners and reputable Chinese importers.
This is underpinned by a strong transactional offering and an extensive range of trade and working capital finance solutions.
Certainly, Standard Bank’s presence across Africa and ability in China can leverage client insights along with producer association and trade promotion council networks.
This year’s CAETE was held under the theme, “Common Development for a Shared Future, takes place in the new purpose-built Changsha International Convention and Exhibition Centre.”
By Jamila Akweley Okertchiri