Ecobank creates platform for exporters to exploit AfCFTA
By Fredrick Wright
Ecobank Nigeria said it has structures in place to enable exporters exploit the opportunities in The African Continental Free Trade Area (AfCFTA).
Executive Director, Corporate Banking, Ecobank Nigeria, Kola Adeleke, said it remains the partner of choice in Africa for export trade because of its unique positioning, wide network, pan African payment switch, settlement capabilities, award winning digital products and strategic focus.
“Our unique positioning in 33 African countries enables us leverage our extensive network to reduce the number of financial partners and relationships in executing trade. We own the switch connecting countries where we operate across Africa. This centralized switch enables easy integration.
“We possess knowledge of the local markets in which we operate resulting in unparallel financial advisory. We offer real-time settlement across Africa and our customers enjoy instant transfers across 33 African countries.
“Ecobank has a reputation for developing innovative products as the bank has won us several international, regional and local awards and we aspire to be the gateway to pan-African payments and trade”. he stated.
Adeleke reaffirmed that Nigeria is poised to gain from the investment and trade opportunities that the AfCFTA will inevitably bring because of its market size, supply chain infrastructure and an abundant supply of professionals/skilled players in various industries. He emphasized that businesses must strategically position themselves, endeavour to understand the dynamics of the ratification to be able to maximize the benefit and opportunities.
Also speaking, Head of Trade, Ecobank Nigeria, Chijioke Uzoukwu, listed the Ecobank products and services on offer to support Export Trade as comprising letters of credit, bonds, guarantees as well as bills for collections avalization.
