This archive report was first published on 5 September 2019.
On September 5, 2019, Stanbic Bank Kenya announced a partnership with Industrial Commerce Bank of China (ICBC) and Chinese trade agent Zhejiang International Trading Supply Chain Co. Ltd to enhance trade between Kenya and China.
The partnership, under the African China Agent Proposition (ACAP), aims to deepen trust in Africa-China trade relationships by guaranteeing African importers access to the best suppliers in China.
Stanbic Kenya and ICBC will provide financial support to ease cash flow for importers, handle shipping logistics, and negotiate the best prices, trade conditions, and supplier meetings in China.
Guomao, a platform with over 10,000 validated Chinese suppliers, will offer Kenyan importers a one-stop foreign trade supply chain and cross-border e-commerce supply chain service.
Kenyan importers will benefit from quality guarantees, translators to facilitate trade negotiations, and the ability to receive goods before payment is made, allowing them to keep cash in the business for growth.
