Pan African Lender set sight on Intra-African trade
Small Businesses seeking to access African markets should talk to Ecobank to understand customers across 33 countries. Ecobank also has representative offices in China, Dubai and the UK.
The lender has launched a new business club linking businesses while providing insights into the unique markets.
Dubbed the Emerald Ecobank Business Club it will give members access to direct networking platforms, market information as well as business advisory services from the Ecobank, associated partners, external trade facilitation and preferential banking among others.
It will also SMEs to leverage on Ecobank’s customer book to authenticate and vet trading partners across the continent.
“For most SMEs, the main risk is the loss of their products or services to unscrupulous traders with no formal traceability or channels to authenticate the end recipient. If they can get access to a secure network, formal business channels and an understanding of trade rules and requirements in different markets then they are more willing to expand into new markets through B to B agreements.” Said Ms. Laurence Do Rego – Ecobank Group Executive, Commercial Banking.
The club is already operational in Ghana, Nigeria, and Cote D’Ivoire among others with plans to launch in the entire East Africa in the next two months and all of Ecobank’s 33 markets by 2020.
The lenders is banking on the Africa Continental Free Trade Area (CFTA) agreement which signed by 44 African countries last month is expected to create a $6.7 trillion market by the year 2030.