StanChart relaunches China-Kenya trade corridor solution for SMEs
The initiative empowers local SMEs by providing improved access to financing, reduced transaction costs, and direct links to Chinese markets, with a focus on sectors such as manufacturing and green energy. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Standard Chartered Bank has relaunched its China-Kenya trade corridor solution aimed at empowering local small and medium-sized enterprises (SMEs) engaged in Sino-Africa trade.
- The initiative offers improved access to financing, reduced transaction costs, and direct links to Chinese markets, particularly for sectors like manufacturing and green energy.
- Key figures involved include Richard Li, group head of global Chinese at Standard Chartered, and Bernard Kombo, head of SME Banking at Standard Chartered Kenya.
- SMEs can achieve up to 2 percent annual savings by using the RMB for working capital financing, leveraging a cross-border international payments system that settles in 15 seconds.
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