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Browsing: China trade facilitation
Stanbic Bank Kenya and Industrial Commercial Bank of China (ICBC) have partnered with Chinese Trade Agent Zhejiang International Trading Supply Chain Co. Ltd (Guomao) to launch the Africa China Agent Proposition (ACAP) initiative. (https://navalpost.com/)
The initiative which has been launched in different parts of Africa aims to assist African importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China.
The ACAP offering is expected to revolutionize African importers’ view of China’s supplier universe. It will 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.
It was initially launched in Nigeria and Ghana in May 2019 with roll out to South Africa and Kenya following.
Currently African importers order from only a handful of trusted Chinese suppliers. This limits the negotiating power of African importers …