Andrew
Online Reporter
STANBIC Bank has facilitated US$400 000 worth of imports for its clients through its Africa-China Import Solution facility, which was launched towards the end of 2021.
The first batch of orders are expected by month-end.
Stanbic Bank head trade and Africa-China banking Mr Tapuwa Nyika said the facility has helped importers save between 20 percent to 40 percent 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 Mr Nyika.
The group said the facility was established to build a trusted trading bridge and help individuals and businesses steer through the 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 original equipment manufacturers in China.
“As Stanbic Bank, 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 … Stanbic Bank’s Africa-China Trade Solutions (ACTS) offers customers assistance with cross-border trade requirements from start to finish,” said Mr Nyika.
Bongani Ndlovu
Online Reporter