Ecobank Assures Exporters Platform to Explore AfCFTA Opportunities

Ecobank Assures Exporters Platform to Explore AfCFTA Opportunities

By Aduragbemi Omiyale

African exporters have been assured by Ecobank Nigeria of a wide platform to enable explore the opportunities in the African Continental Free Trade Area (AfCFTA).

The Executive Director in charge of Corporate Banking at Ecobank Nigeria, Mr Kola Adeleke, informed journalists in Lagos that the pan African financial institution has structures for the achievement of this.

He reiterated that the lender remains the partner of choice in Africa for export trade because of its unique positioning, wide network, pan African payment switch, settlement capabilities, award-winning digital products and strategic focus.

“Our unique positioning in 33 African countries enables us to leverage our extensive network to reduce the number of financial partners and relationships in executing trades.

“We own the switch connecting countries where we operate across Africa. This centralized switch enables easy integration.

“We possess knowledge of the local markets in which we operate resulting in unparallel financial advisory. We offer real-time settlement across Africa and our customers enjoy instant transfers across 33 African countries.

“Ecobank has a reputation for developing innovative products as the bank has won us several international, regional and local awards and we aspire to be the gateway to pan-African payments and trade,” he stated.

Further, Mr Adeleke reaffirmed that Nigeria was poised to gain from the investment and trade opportunities that the AfCFTA will inevitably bring because of its market size, supply chain infrastructure and abundant supply of professionals/skilled players in various industries.

He emphasized that businesses must strategically position themselves, endeavour to understand the dynamics of the ratification to be able to maximize the benefit and opportunities.

Also speaking, the Head of Trade at Ecobank Nigeria, Mr Chijioke Uzoukwu, stated that the bank’s products and services on offer to support export trade include letters of credit, bonds, guarantees as well as bills for collections avalization.He said “the bank also provides loans for business such as import loans, export loans and supply chain finance.“In the trade service, we support customers from initiation to execution in the areas of documentation and compliance, working with regulatory bodies and other stakeholders. We also offer trade advisory solutions like market information across Africa, trade specialist support and after-sales services.“We have an electronic e-trade platform which provides an electronic frontend where the customers can initiate transactions and instruction from the comfort of their home and it will be delivered to the bank.“We also have various collection channels to optimize collections for a business like in-branch […]

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