Stanbic IBTC Bank Highlights Trade Export, Financing Benefits

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IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC recently participated in an Export Capacity Building Programme for registered exporters organised by the Nigerian Export Promotion Council. The event took place at the prestigious Lagos Travel Inn and served as a platform for industry experts to discuss and shed light on the various benefits of trade export and financing.The programme was graced by distinguished speakers who shared their insights and expertise in the field and took the stage to impart valuable knowledge and information to a captivated audience.Manager, Trade Finance, Stanbic IBTC Bank Olatunde Oladejo, delivered an enlightening speech on the immense benefits that trade export and financing can bring to businesses. He discussed how effective trade export strategies can open doors to new markets, drive revenue growth, and strengthen business relationships. He also highlighted the comprehensive suite of trade finance solutions offered by Stanbic IBTC Bank, designed to provide exporters with the financial support and expertise to successfully navigate the global trade landscape.

According to Olatunde, “Despite the challenges faced by the export sector, the non-oil export sector has emerged as a significant propeller of the Nigerian economy. Considering this trend, Stanbic IBTC Bank has a spectrum of measures to meet exporters’ needs.

These proactive steps acknowledge and tackle the varied obstacles encountered by exporters, including issues like inadequate transportation infrastructure and a scarcity of export funding.Moreover, Stanbic IBTC Bank has cultivated a dynamic community of exporters through its specialised Trade Club. This platform serves as a nexus for global exporters, facilitating connections among them, bridging potential buyers and sellers, and empowering them to harness the untapped potential within non-oil exports.Relationship manager, Africa China Banking, Stanbic IBTC Bank, Henry Oradiegwu, emphasised the significance of trade relations and partnership between Africa and China. He shed light on the immense opportunities for Nigerian businesses to tap into the Chinese market and Stanbic IBTC Bank’s role in facilitating these connections through its extensive Africa-China Banking platform and the Africa China Trade Solution (ACTS). Through his speech, Henry called on exporters to explore new avenues and capitalise on the growing trade opportunities between Africa and China.Akintunde Folorunso, Regional Coordinator, Nigerian Export Promotion Council (NEPC) Southwest Regional Office, Lagos, provided valuable insights into the policies and initiatives put forth by the NEPC to support and promote exports from Nigeria. He underlined the need for collaboration between financial institutions like Stanbic IBTC Bank and government agencies to drive economic growth through export development. Akintunde’s speech showcased NEPC’s commitment to facilitating a conducive environment for exporters to thrive. Stanbic IBTC Bank’s participation in the Export Capacity Building Programme underscores its dedication to empowering Nigerian businesses, supporting trade ventures, and promoting economic growth. As a leading financial institution, Stanbic IBTC Bank is pivotal in facilitating trade finance solutions, enabling businesses to seize opportunities, and fostering collaborations between Nigeria and the international market.