Standard Chartered takes 150 African SME customers to Guangzhou and the Hong Kong SME Expo

Ghana, November 2008 – Standard Chartered announced today that it will take 150 of its African SME customers, including 18 from Ghana to Guangzhou, China and to the annual World SME Expo in Hong Kong on December 7 – 13, 2008.

This is the third consecutive year in which Standard Chartered Bank has taken its SME customers to the annual SME EXPO in Hong Kong. The EXPO offers participants the chance to participate in forums with suppliers and customers, obtain market advice and build valuable business ties with other SMEs from around the world.

Raheel Ahmed, Regional Head of Consumer Banking, Africa, said: “I am delighted that we are again able to offer this opportunity to our SME customers. I am confident that this year’s event will once again prove to be very beneficial for our SME customers in assisting them to build their business links in Asia.

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 ability to take advantage of the cross-border networking opportunity offered by the World SME Expo is yet another example of this competitive advantage.”

This year, the Bank’s SME customers will also visit Guangzhou, China, before the start of the Hong Kong EXPO. This leg of the trip will include brief seminars conducted by the Standard Chartered’s African and Chinese SME Banking teams, business matching sessions between customers and factory visits.

The trip to Guangzhou and Hong Kong will further support Standard Chartered’s broader “SME Trade Corridor” initiative. With a unique international network, the Bank has been well-positioned to enable SMEs to conduct cross-border business in Asian markets. Standard Chartered now offers its SME clients a product range specifically designed to ease and facilitate cross-border transactions. These products include the Express Trade Service (ETS) and the International Trade Account (ITA). Customers have additionally benefited from this initiative by being able to open new accounts that can be opened and accessed outside customers’ home markets to facilitate cross-border transactions.

Commenting, William Boateng, Area Head of SME Banking, West Africa, said: “Standard Chartered is interested in building capacity for SMEs in Ghana. This is why we are constantly offering them value-added services that will boost their businesses. This year, we are sending 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.”

“Our focus on SMEs is an acknowledgement of the role they play in helping economies to develop. Standard Chartered therefore remains focused on providing the Right Partner support to them.” He added.

Standard Chartered believes that SMEs in Africa currently account for between 30-60% of GDP, predicting that SMEs will be a key driver of sustainable economic growth in Africa over the next 10 years. The Bank is committed to assisting the development of the SME sector in Africa through the provision of innovative financial services. Last September, Standard Chartered Bank ran its hugely successful ‘Africa SME month’ launching new products and services, exclusively to its customers in Africa

For more information, please contact:

Nii Okai Nunoo
Area Head of Corporate Affairs, West Africa
Tel: +233(0)21 669688 Fax: +233 (0) 21 661676
Nii-Okai.Nunoo@standardchartered.com