Ecobank targets import, export with regional trade forum
By Omobayo Azeez
Ecobank has announced its readiness to host Nigeria’s 2020 Regional Trade Forum in Lagos to promote importation and exportation ends of Nigeria’s economic spectrum.
According to the lender, the forum taking place in March will be a two-day event, providing the opportunity for exporters and importers within the African region to exhibit their products in a marketplace scenario with panel discussions by experienced and diversified stakeholders and leaders of thought in the industry.
Announcing the Trade Forum in Lagos, Sunday Abah, head trade finance of Ecobank Nigeria said the bank is using the forum to unveil its comprehensive trade solutions to its existing and prospective customers alike by sharing the various payment methods available to facilitate cross border trade throughout its network across Africa.
According to him, the bank recognizes the role of exporters and importers in driving economies through trade.
“By creating a networking forum for importers and exporters via the trade exhibition slated for the first day of the forum, the bank extends support to stakeholders in export and import businesses.
“Ecobank’s trade products and solutions are designed around two broad areas: trade finance which enables customers benefit from adequate and well mitigated credit facilitation in the area of import finance, export finance, bill discounting, trade loans, distributor finance, structured trade and commodity finance amongst others; also we do trade services, which gives our customers the advantage of speedy turnaround time and error free processing of import letters of credit, import collections, customs bonds, export collections and regional trade services amongst others” he noted.
He said Ecobank’s unique intra-Africa trade solutions enable settlements of trade transactions and mitigation of payment risk; provide regional solutions and enable exporters obtain payment guarantees without the need for a letter of credit and its related costs to the importer.
He added that the lender works closely with clients in reviewing key factors regarding transactions processing, settlements, financing, and risk mitigation as well as credit enhancement.
“The bank boasts of a unique and large Pan-African platform that positions it to support trade at all levels. Its technology platform is designed to help unlock the opportunities of the continent through standardization across 33 countries, while fueling regional integration, trade and investment across borders.”
According to Abah, the Ecobank Africa Trade Forum is expected to attract hundreds of guests and participants. Leaders from across Ecobank Group will also be attending to share their market specific trade knowledge and information.