Standard Chartered Customers benefit from SME Trade Corridor Event in Asia
Ghana, January 2008 – Standard Chartered’s SME customers have once again benefited from the annual World SME EXPO held in Guangzhou, China and Kowloon, Hong Kong last month.
Last month the Bank invited 18 SME customers to the fair. This is the third consecutive year Standard Chartered Bank has taken its SME customers to the annual SME EXPO. The EXPO offered the customers from Ghana the chance to participate in forums with Asian suppliers and customers, obtain market advice, negotiate better trade deals, seal dealership contracts and build valuable business ties with over 100 SMEs from around the world.
Commenting, William Boateng, Area Head of SME Banking, West Africa, said
“The EXPO once again proved to be very beneficial for our SME customers in assisting them to build their business links in Asia. This year, we sent 18 of our clients to the Expo – all members of the Standard Chartered SME Business Club which was launched this year during our trade corridor month.
Standard Chartered has a unique and well established footprint in Asia, Africa and the Middle East and will continue to provide the necessary financial tools and strategic advice to SME customers with cross-border business. Our competitive edge is evidenced by our ability to take advantage of the cross-border networking opportunity offered by the World SME Expo.”
Mr. Simon Tetteh, a participant who represented Rain Trade Company Limited, said
“The World SME EXPO is indeed a great opportunity for African businesses to link up with their Asian counterparts under the auspices of one great business partner – Standard Chartered Bank. I congratulate Standard Chartered Bank for such a great initiative and will humbly request that the bank further assists participants to convert the networks created into deals.”
The event is expected to generate an average of USD1m trade transaction per customer over a 12month period, thereby increasing the bank’s transactional banking through enhanced International Trade Account sales and referrals. Over 50 manufacturers and distributors within the Chinese and Hong Kong business community have already made strides to establish links with the 18 Ghanaian businesses who participated in the event.
Also, relations with the Ghanaian Asian business community have improved, necessitating the hiring of Mandarin speaking Relationship Managers, an industry first.
The organizers of the EXPO also hosted a ‘National Pride Ball’ as part of its activities. Dressed in traditional Kente regalia, the delegation from Ghana, led by William Boateng, Regional Head of SME Banking, West Africa, marketed the rich Ghanaian culture amidst singing of patriotic songs including Ephraim Amu’s “Yen ara ye asase ni” and waving of miniature national flags. They also danced the Gome and Kpanlogo dances and also took time to explain the symbolic colours of the national flag.