Stanbic Bank facilitates import of US$400 000 goods through Africa-China facility

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By Reason Razao 

STANBIC Bank says it has facilitated payment of close to half a million United States dollars worth of imported products for Zimbabweans through its African-China Trade Solutions (ACTS) facility.

Orders worth US$400 000 have been made with the first batch of orders expected to arrive monthend while others are under discussion.

Stanbic Bank head of trade and Africa-China banking Tapuwa Nyika said the facility had helped importers save between 20 to 40 percent when compared to 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.

“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.”

Nyika said Stanbic Bank’s thrust in 2022 is to partner its clients for growth and the institution identified a need for its clients through the import solution and aims to make importing from China seamless.

“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.

According to Nyika, the Africa China Import Solution has succeeded in boosting import quality for Stanbic Bank importing clients through guaranteed quality assurance, testing and certification.