GABORONE, June 30 — At least 73 business clients of Stanbic Bank Botswana from nine African markets have showcased their goods to over 200 Chinese importers gathered in Changsha, capital of China’s Hunan Province, and eventually secured off-take agreements.
This emerged Wednesday during a virtual business matchmaking session hosted by the bank and its equity partner, the Industrial and Commercial Bank of China (ICBC), in collaboration with the China-Africa Economic and Trade Expo. The event was coordinated from Gaborone, the capital of Botswana.
Philip Myburgh, the head of Africa-China Banking at Stanbic Bank Botswana, said the bank and its partner the ICBC, have for over a decade collaborated in facilitating trade between Africa and China.
“Part of this increasingly significant global trade capability includes assisting African exporters to find off-takers in China, Africa’s largest trading partner,” Myburgh said, adding that Stanbic Bank Botswana has to this end hosted quarterly Africa-China export matchmaking sessions, providing its business clients across Africa virtual and assisted access to the Chinese market.
“The beauty of the virtual sessions is that Stanbic Bank Botswana clients, regardless of where they are in Africa, can interact directly with potentially hundreds of product off-takers in China, without having to leave their businesses or homes,” he said.
Hunan Province in central China is an important trade hub between African and Chinese companies, according to Myburgh.
During the 8th ministerial conference of the Forum on China-Africa Cooperation held in November last year, China announced that it will further increase the scope of products enjoying zero-tariff treatment for the least developed countries having diplomatic relations with China, in a bid to reach 300 billion U.S. dollars in total imports from Africa in the next three years. (Xinhua)
African exporters secure off-take agreements with Chinese importers
