UBA, LCCI assure SMEs on value creation at 2019 Lagos Int’l trade fair
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
…promise foreign exchange hassle free transactions for merchants from other countries
United Bank for Africa (UBA) Plc and the Lagos Chamber of Commerce and Industry(LCCI), have assured small medium enterprises (SMEs) that the 2019 Lagos International Trade Fair will bring far reaching benefits that will help transform their businesses and take it to the next level.
The bank also mentioned that all hands are on deck towards providing hassle free foreign exchange transactions for merchants attending from other countries.
According to a statement from the bank, Jude Anele, UBA’s head group consumer retail business, gave these assurances, Tuesday, at a press conference to officially herald the 2019 Lagos international Trade Fair as well as unveil sponsors of the trade fair.
He said that Africa’s global bank has put in place various service offerings to guarantee that this year’s fair provides a veritable platform to catalyse businesses to new highs.
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He explained that the 33rd edition of Lagos International Trade Fair scheduled to commence on November 1st, 2019 is expected to provide an avenue for networking, trade and investment bound to boost business activities in Africa’s largest economy and by extension, Africa.
While ensuring that SMEs maximise their presence at the fair, Anele explained that UBA would provide an uninterrupted banking services during the two-week event, and also providing advisory services to the small and medium entrepreneurs, fundamental to achieving their business goals.
He said, “Worthy of mention is that merchants and entrepreneurs from other African countries and abroad would be able to conduct their transactions seamlessly without currency exchange hassles, using the extensive reach of UBA as a pan African bank with presence in key commercial capitals in the world,”
“We have realised that critical to the success of SMEs in Africa is not necessarily access to finance, but their understanding of business and accounting mechanisms, process and procedures critical to their growth and existence especially on e-commerce, tax management, and bookkeeping and access to funding, and these are issues which we are trying to address,” he said.
Speaking on the ease of payment during the event, especially with African companies from outside Nigeria, Anele disclosed that UBA has successfully put in place solutions that would see ease of payment within Africa.
“UBA will be deploying state-of-art Point of Terminals (POS) configured towards ensuring merchants receive immediate values in currencies of their choice,” Anele assured.
The Bank further said that in line with its unflinching support to the growth of small and medium enterprises (SMEs), it has reached an agreement with the organisers of the fair to give 20% discount to its small and medium business customers who register to showcase their products and services at the fair.
A key activity at this year’s fair is the Africa Special Day, to be organised by UBA to promote Intra-African Trade. “At UBA, we believe that Africans must grow trade and investment amongst themselves. In pursuits of that goal, Africa Special Day will seek for the promotion of trade and investment among African countries.”
Also speaking, Gabriel Idahosa the chairman, trade promotion board, promised that the 33rd edition of West Africa’s flagship fair would bring utmost value to entrepreneurs and businesses in Nigeria and beyond as he acknowledged the massive supports being provided by corporate organisations such as UBA.
“At UBA, we have chosen a suitable partner with extensive reach on the continent with capacity to engineer a seamless financial transactions expected of international trade fair of this magnitude,” he said.
Speaking further on the partnership with UBA, he said: “The LCCI and UBA has partnered to give exciting services to visitors and exhibitors at the fair. UBA is a foremost Pan African financial institution operating in 20 African countries, the United Kingdom and the USA and France, thus offering unique services to the delight of visitors and exhibitors during the fair.”
According to Idahosa, 40,000 square metres of exhibition spaces are available with over 2,000 exhibitors from 16 African countries and 200 foreign exhibitors expected in Lagos.