Stanbic conference unpacks trade finance solutions

14th June 2017
Stanbic Bank panel discussion Source:The Midweek Sun

...

By Sun Reporter - Reporter


Stanbic Bank Botswana hosted its inaugural Trade Conference last Friday bringing together key clients, potential clients, and stakeholders from across sectors to unpack and explore trade finance solutions.

The conference aimed at raising awareness on trade finance focusing on risks and the benefits; highlighting the importance and application of bargaining power; and exploring the trends of trade finance in the SADC region and the industries that make trade finance relevant. Muzi Nkosi, Regional Head, Transactional Products and Services, Corporate and Investment – Banking (CIB) at Stanbic Bank Botswana said their intention was to create an interactive session with clients and an environment where, as a financial partner they could demonstrate their potential and capability, both from the Botswana business, as well as leveraging the wider Standard Bank Group network Trade Finance in the context of Botswana has predominantly promoted the use of Bonds and guarantees while letters of Credit have typically been issued only where an international supplier requires it

. Stanbic Bank continues to provide relevant and value-add, with a proven track record of success in trade advisory, facilitation and financing. Nkosi said that, “with most of the jobs/projects being issued out of the Government of Botswana, our participation informs us that the contracts established do not always serve in favour of the Republic of Botswana or that Trade Finance Instruments (Guarantees, Letters of Credit & Escrows) are not always employed to favour both parties.

Thus, there is an avenue to explore and develop more prudent and beneficial terms and solutions.” Trade finance refers to the facilitation and/or financing of goods or services between trading parties.

Trade Finance Solutions predominantly mitigate performance and financial risks, obligations are assumed by the Bank in trade finance which builds trust amongst the trading parties, it mirrors the sales and payment cycle and improves working capital. “At Stanbic Bank, our teams are structured and organised to deliver bespoke solutions in Power and Infrastructure, Mining and Metals, Telecommunications, Oil and Gas, Fast Moving Consumer Goods, Industrials, Public Sector, Financial Institutions and Non-Banking Financial Institutions.

This enables us to deliver in-depth knowledge and experience on all aspects of our clients international trade needs, and we look forward to working more with clients to provide the solutions and support they need,” concluded Nkosi Key speakers included: Don W. Ruhukwa - Chief State Counsel, Attorneys General’s Chambers; Muzi Nkosi - Regional Head Botswana, Lesotho, Swaziland, Transactional Products & Services - Stanbic Bank Botswana; Thendo Mulaudzi - Regional Product Manager for Southern and Central Africa; and TebogoGiddie - Transactional Banker - Stanbic Bank Botswana. Leading the panel discussion was MmantlhaSankoloba - Executive Director, Botswana Exporters & Manufacturers Association (BEMA).




Latest News

Newsletter Subscription

      Subscribe Now      

Website designed & developed by DigitalHorn © 2016