Stanbic makes inroads with China focused strategy
Stanbic Bank Zimbabwe has facilitated the importation of products worth US$400 000 for its clients through its African China Import Solution facility.
The leading financial services institution launched the Africa-China Trade Solutions (ACTS) facility in 2021.
Stanbic Bank head Trade and Africa China Banking, Tapuwa Nyika said the facility helped importers to save between 20% and 40% when compared to their traditional suppliers both within Zimbabwe and internationally.
“These cost savings have made Stanbic clients more competitive in the respective industries that they compete in. Through the solution we have facilitated importation of machinery, raw materials, and packaging materials. These goods are for the construction, medical, mining and manufacturing sectors,” said Nyika.
He said the Standard Bank Group of South Africa subsidiary launched the facility to build a trusted trading bridge and help individuals and businesses steer through a diversity of suppliers in China.
Through the facility, Stanbic Bank’s clients are guaranteed tailor-made solutions which meet their requirements and production flow and they are linked directly with equipment manufacturers in China. “We understand that importing from China has unique challenges and risks for Zimbabwean businesses and as such the China import solution is designed to support businesses at every stage of the import journey,” he said.
“The service not only allows for seamless trade but also provides the best prices for quality products. As a bank we believe that this offering will be of immense value to the clients that we serve and allow them to compete effectively in their chosen areas of operation,” said Nyika.
He said the Africa China Import Solution had succeeded in boosting import quality for Stanbic Bank importing clients through guaranteed quality assurance, testing and certification.
“Stanbic Bank Zimbabwe has succeeded in its mission by introducing this trailblazing service which is of immense value to our clients. Our aim as a bank is to continuously improve our offerings and partner with our clients for growth,” he said.-newsday
