Stanbic Bank Kenya has entered into a partnership with Industrial Commerce Bank of China (ICBC) and Chinese trade agent Zhejiang International Trading Supply Chain Co. Ltd to enable Kenyan importers to source and validate quality goods, safely and efficiently from most competitive suppliers in China.
Stanbic Kenya and ICBC will ease the cash flow to importers by providing financial support and handle shipping logistics.
Guomao has over 10000 validated Chinese suppliers allowing Kenyan importers access to a one-stop foreign trade supply chain and cross border e-commerce supply chain service. In addition, Guomao will negotiate the best prices, trade conditions, and supplier meetings in China.
The initiative, under the African China Agent Proposition (ACAP) will deepen trust in Africa-China trade relationships by guaranteeing African importers access to the best suppliers in China. Chinese suppliers can be confident of the fulfillment of contract terms and payment made in full and on time.
On the other hand, Kenyan importers can receive goods before payment is made thus allowing them to keep cash in the business for growth. Furthermore, Kenya importers will have access to quality guarantees and translators to facilitate trade negotiations.