Business community doing business between China and Africa have something to smile about following a plan by Standard bank to create China-Africa bank counter to easy doing business between the two.
The window will providing a platform to link African and Chinese clients with China’s highly networked digital banking and customer knowledge systems. It will be staffed by bankers with Chinese language and cultural capability, offering clients consultation and advisory services via telephone, online or email.
“It is a fact that trade between China and Tanzania is growing at a tremendous speed. To ensure smooth trade, we need to have innovations that suits both, China and Africa,” George Lo, Standard’s Head of Pan Africa China Banking said during East Africa Media Forum in South Africa.
A number of African market where standard bank has footprints have recorder strong growth, presenting opportunities for investors from the Asian nation. “We need to have a comfortable ground that will make trader at ease to do business. The china-Africa counter will make it possible for a trader to call direct and get assistance in an instant,” George said.
According to George, the bank will make sure that it cuts the language barrier by teaching Africans how to speak Chinese language. “We have a team of Chinese in some of African countries where standard bank has footprints, we are looking at strengthening that by taking Africans, teach them Chinese so that they could be able to offer services to both Africans and Chinese. I am confident that his innovative approach will stimulate business between both continents.”
“Our strategic partnership with the Industrial and Commercial Bank of China (ICBC) will help us realise the full potential of deepening Africa-China trade and investment in a unique growth corridor – the development of this dedicated banking centre for Chinese clients in South Africa being one of the practical transactional platforms that cements our relationship,” Mr. Lo said.
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