Tuesday, April 13, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

Standard Bank promotes Africa-China trade

by Chikondi Chiyembekeza
01/05/2020
in Business News
3 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Standard Bank plc says it still has the capacity to help local customers manage ongoing importation processes from China despite the disruption in global trade.

Standard Bank Malawi plc chief executive officer William le Roux said in an interview that the bank’s capacity under Africa China Agent Proposition (Acap) comes on the back of its global footprint.

RelatedHeadlines

Pre-budget dialogue draws mixed views

Nasfam tips govt on AIP execution, future

Teveta courts industry on reforms, job market needs

He said: “Using our trade teams and global footprint, we can connect customers to new markets and opportunities that have allowed them to navigate in these circumstances.

William Le | The Nation Online
Le Roux : We are trying to manage credit risk

“Through the Africa China Agent Proposition and Trade Club we have been able to facilitate customers’ trading with China.”

Since the outbreak of the novel coronavirus (Covid-19), global trade has faced major slowdown due to national lockdowns in many economies.

The slowdown has affected local traders and merchants who import from China, with many of them completely halting importation processes. 

But Le Roux said the Malawi Stock Exchange-listed bank remains cautious and hopeful on the long-term effects of the pandemic and remedies in place.

 “We are expecting to see a slowdown in business volumes emanating from reduced economic activities.

“We also envisage that some of our customers may face challenges with loan repayment which may result in increased non-performing loans. However, we are proactively trying to manage credit risk and impairments.”

Under the facility, Standard Bank is still helping its customers who were already in the process of importing from China.

Acap is a service that helps African importers to smoothly trade with China. The offering connects customers with the right suppliers in China and helps them source and validate the quality of goods they are ordering.

 Customers are helped with pre-shipment, shipment and post-shipment activities such as travel logistics, supplier sourcing, goods quality variation, issuance of letter of credit, import financing and cash management facility among other services.

Malawi, being a landlocked country, has also been affected by other restrictive measures that have delayed haulage of goods into the country. As per government’s Covid-19 containment measures, only essential services are being allowed into the country, meaning those whose cargo manages to reach ports such as Dar es Salaam in Tanzania and Beira in Mozambique will still have to wait until some restrictions are lifted. 

 On a larger scale, the bank says in line with its business, there will be disruption in transport and logistics, wholesale, trade and retail, public sector, agriculture, manufacturing, tourism and hospitality, among key sectors.

Avatar
Chikondi Chiyembekeza
Previous Post

Ireland gives Malawi K800m for Covid-19 response

Next Post

Covid-19 slows investments

Related Posts

Mlusu: Government has commenced payment
Business News

Pre-budget dialogue draws mixed views

April 13, 2021
agriculture inputs | The Nation Online
Business News

Nasfam tips govt on AIP execution, future

April 13, 2021
Business News

Teveta courts industry on reforms, job market needs

April 12, 2021
Next Post
apm | The Nation Online

Covid-19 slows investments

Opinions and Columns

Political Uncensored

Managing the dream

April 11, 2021
My Thought

Malawi needs fixing, not politicking

April 11, 2021
People’s Tribunal

Don’t intimidate Nyasaland Union of Teachers

April 11, 2021
Emily Mkamanga

Longevity in power no solution

April 11, 2021
https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf

Trending Stories

  • Malawi Airlines is yet to post a profit since it took to the skies

    Malawi Airlines faces liquidation

    0 shares
    Share 0 Tweet 0
  • Covid-19 measures relaxed, bars open till late

    0 shares
    Share 0 Tweet 0
  • After hypocrisy MCP, UTM will part ways

    0 shares
    Share 0 Tweet 0
  • Businesses say can’t breathe

    0 shares
    Share 0 Tweet 0
  • Court favours Unima on virtual graduation

    0 shares
    Share 0 Tweet 0
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.