Standard Bank connects and grows African businesses

SA’s economic fallout as a result of Covid-19, increased debt levels and unemployment has made it more critical than ever to facilitate and support local as well as international trade (exports and imports) to spur the country and the continent’s growth.

With Trade by Standard Bank, we aim to be a partner in your growth journey and can help create a secure and trusted environment for you to trade by providing an end-to-end trade solution ecosystem.  

This includes the following:

• introductions to new vetted potential buyers — locally and around the globe;
• assistance with diversifying your supplier base and products through access to new international, vetted suppliers;
• the provision of working capital finance;
• mitigation of risks of non-delivery and non-payments from customers and foreign currency fluctuations; and
• a single point of contact to assist in all your importing needs, including all-in costing, logistics facilitation, product track and trace services, payments, foreign exchange covers and customs clearing.

One of the biggest challenges for many African businesses is finding trusted customers and suppliers to trade with — locally, on the rest of the continent, and globally. To solve this, one of the trade solutions that Standard Bank is offering our customers is an innovative digital platform that connects clients to a world of vetted buyers and suppliers.

Our platform’s sophisticated algorithms will match customers to relevant businesses to which they can connect. This is supported by a dedicated team to help get the most out of the platform by proactively identifying and engaging suppliers and buyers that meet our customers’ requirements, as well as providing them with specific market insights.

Access to this exclusive service includes:

• facilitated introductions to pre-vetted businesses from more than 60 countries;
• a secure platform to correspond with businesses regarding new opportunities; and
• the chance to participate in both virtual and when available, physical international trade shows and events.

Helping businesses find additional customers and suppliers is only the start of our solutions. As businesses grow, the need for additional support capacity arises — both operational and financial.

Trade by Standard Bank provides businesses with import trade management services through an expert, single point of contact, who proactively works with customers throughout their import journey.

This includes per unit costing of imported goods, timeline planning, production tracking, access to world-class logistics providers, real-time tracking on all goods, and management of shipping documents and arrangements. We provide support in managing payment processes and customs requirements (duties, taxes and all other clearing requirements) and help ensure that customers meet all other relevant regulatory requirements.

In addition, we ensure that customers have the working capital needed to grow with loan products that help by extending businesses’ cash-flow cycles. These are designed to provide businesses with the cash-flow bridge needed between purchasing goods, the manufacturing process and their eventual sale.  

We provide a range of risk-mitigating financial products that cover buyer payment and supplier performance risks, such as letters of credit and guarantees. Our foreign exchange products provide the ability to mitigate currency risks.

These solutions allow us to play a vital strategic role in our clients’ sustainable business growth — both locally and internationally. We are able to leverage this position and knowledge of our clients’ businesses and local markets to give them the bespoke advice they need.

As Trade by Standard Bank, we partner with you to achieve growth so that we can support the economies of the African markets in which we operate.

For more information on Trade by Standard Bank, please contact your trade sales manager, relationship manager or account executive. You can also e-mail TradeSalesFulfilment@standardbank.co.za or visit our website on www.standardbank.co.za/tradepoint.

This article was paid for by Standard Bank.