Trade and finance experts recently gave useful insights on how to leverage the Africa Continental Free Trade Area (AFCFTA) as a key engine of economic growth, industrialisation and sustainable development of the West Africa region.
They also discussed ways to generate alternative financing of Agribusiness and how to harness opportunities in the huge infrastructural gap in West Africa through Export Credit Agencies (ECA) and public sector investment.
The experts spoke at the annual Global Trade Review (GTR) conference titled “GTR West Africa Conference 2020” that was held in Lagos with Standard Chartered Bank as gold sponsor.
For instance, while delivering her keynote address at the conference, the Chief Economist, Africa & Middle East, Stantard Chartered Bank, Razia Khan, said Nigeria has biggest economic opportunities in the sub-Sahara West Africa region, noting that the region is on track for a growth and recovery.
“2020 is a year of uncertainty due to the global outlook, nevertheless Sub-Saharan West Africa region is on track for a growth recovery with the biggest opportunities for Nigeria.”
Also speaking during the panel discussion, Head of Trade and Transaction Banking, Nigeria & West Africa, Standard Chartered Bank, Ibiyemi Okuneye, emphasised how innovative digital solutions can be used to transform the entire value chain for farmers and small scale businesses from the point of enhancing farmers agric output and reducing post-harvest wastages, to creating more efficient logistics services and ultimately providing platforms for easy accessibility to financing opportunities.
According to him, Standard Chartered Bank continues to remain a strong market player in the trade finance space in Nigeria.
The bank said its engagement at such industry events further cements its position as an expert on trade finance trends and leader in providing innovative digital trade solutions.