From Local Market to Global Stage: Borderless Business through THE Bank

As per their presentation during our recent Annual Business Conference, Standard Bank has fit-for-purpose representation in 20 African countries,    financial global centres and offshore hubs.

Apart from the usual forex to finance solutions, Standard Bank has a unique and impressive Africa-China Trade Solutions suite.  This is particularly       relevant since the new zero tariffs with China came into play. How do they do this?

Standard Bank, as Africa’s largest bank and operating in 20 countries,       partnered with the world’s biggest bank, the Industrial and Commercial bank of China (ICBC).  This enables them to offer unmatched Africa-China trade solutions.

On the ground teams, deep sectoral experience, strong partnerships with   governments and businesses in Africa and China, assist to navigate these     complex financial and regulatory cross-border environments.

This includes the CIPS (Cross-Border Interbank Payment System) which is a wholesale payment system authorised by the People’s Bank of China for clearing and settling cross-border transactions in Chinese Yuan (RMB).  It is designed to provide amore efficient, low-cost and convenient way to conduct international RMB payments and serves as an alternative to the global SWIFT network for yuan-denominated transactions.

This is not all, they literally take you by the hand and facilitate introductions to Chinese clients, assist with sourcing, shipping, payments as well as pre & post inspections!  Their Chinese partner, Guomao, assists to coordinate trips to China for the Bank’s clients, including Itinerary Preparation, client selection, visas and travel arrangements.

The complete proposition connects you to reputable Chinese Importers with Letters of Credit and Guarantees, Guidance on navigating the regulatory    environment, Providing access to Renminbi currency to reduce multiple      currency conversions, overcoming language barriers with access to Mandarin-speaking staff, providing trade finance to enable you to expand your           operations, insurance and logistics solutions and finally securing your       presence at the annual CIIE and bi-annual CAETE exhibitions.

Their further assist African exporters to obtain Chinese customs qualification, buyer resource sharing and merchandising services, Chinese labelling, Online promotion, Product preliminary processing training and Logistics services.

International trade expos are vital when dealing with larger premier markets.  This is why they regularly participate and facilitate participation in these events like the China International Import Expo, etc, as well as Business            matchmaking events throughout the year.

They also have a unique partnership programme with the City of Atlanta in the USA.