Stanbic IBTC Bank has launched an Africa-China Agent Proposition (ACAP) which aims to assist Nigerian importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China.
The ACAP offering is expected to revolutionise African importers’ view of China’s supplier universe. It would also ease the cash flow of African importers by providing access to financing while empowering importers with sight and control of the entire importing and logistics process.
The offering, which is expected to connect African importers and Chinese exporters and open China to Africa, was officially launched in Nigeria recently and would also be launched in Ghana and South Africa with other markets in Standard Bank’s African footprint to follow before the end of 2019.
Currently, Nigerian importers order from only a handful of trusted Chinese suppliers. This, according to a statement from the bank, limits the…