Stanbic Bank creates first Chinese market corridor in Africa
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Stanbic Bank creates first Chinese market corridor in Africa By Luswepo Mutepuka, Kwilanzi News Zambia STANBIC Bank has created the continent’s first ever Africa-China trade corridor to connect local businesses to export and import opportunities in China. The facility is also designed to help SMEs access working capital financing, facilitate payments while also handling shipping logistics on behalf of Zambian entrepreneurs. As the COVID-19 virus continues to wreak havoc on the global economy by disrupting trade, SMEs continue to be some of the worst affected. This effect is keenly felt in Zambia’s predominantly import-dependent economy. While Zambia has kept its...