Stanbic Bank says that its partnership with the Industrial and Commercial Bank of China, the world’s biggest bank by assets has given it unrivalled competitive advantage in the Africa – China trade corridor.
Speaking at an event hosted for Chinese clients to showcase its unique Chinese product propositions, Head of Corporate & Investment Banking, Ms Helen Lubamba said that with this year being the tenth anniversary of the partnership between Standard Bank Group, Africa’s largest bank by assets and ICBC, the Bank is in pole position to realise the full potential of the deepening Africa – China trade and investment in a unique growth corridor.
She also noted that with increasing trade between China and Africa, and particularly Zambia in this instance, Stanbic Bank has the capabilities and expertise in providing banking solutions aimed at easing trade challenges.
‘Our aim is to provide banking solutions that will ease trade between Africa and China. Stanbic Bank is well positioned to offer various banking solutions that include foreign exchange spot forwards, currency options and money markets’, said Ms Lubamba.
She also added that in addition to supporting big Chinese corporates and putting together deals, Stanbic Bank is investing in innovative solutions ranging from transactional, card and payments systems through to global funding solutions.
Stanbic Bank also has mandarin speaking relationship management teams who understand local market dynamics and provide expertise that assist in navigating complex financial and regulatory cross – border trade between Africa and China.
And speaking at the event, Head of Client Coverage South & Central Africa, Lydia Zhang said that as a Bank rooted in Africa, Stanbic Bank’s large footprint on the continent provides for a deep understanding of the different geographies and market dynamics.
Said Ms Zhang, ‘We are especially adept at connecting clients to opportunities and helping them achieve their business as active partners. Our clients rely on our strong links with governments, regulators and business across Africa, and our expertise in growth sectors from agribusiness and infrastructure to retail and fast - moving consumer goods.’
Also speaking at the event was Mr Xiuzhu Li, the Global Markets Head for Chinese Segment Sales stated that the rebound and strong recovery in copper prices, coupled with vibrant positive sentiment from international investors has provided support to the economy.
He added that Zambia continues to be a highly attractive investment destination for both public and private Chinese investors. Against the backdrop of the ‘Belt and Road’ initiative and strengthening China – Zambia economic ties, this trend is likely to continue, and reap fruitful outcomes for both nations.’