Lagos, April 2, 2023 – Ecobank Nigeria in collaboration with Lagos Chamber of Commerce and Industry (LCCI) has organised a seminar to provide insights into the various financing options available to exporters.
The seminar also avail exporters of the regulatory frameworks as well as the role of public and private sector institutions in promoting exports businesses.
Speaking at the ceremony, Dr Oladele Cole, the President of LCCI, said breaking barriers to export finance was critical to stakeholders in the export and import business.
He said the seminar was to expose and sensitise industry stakeholders on the potential and rich opportunities locked in the industry.
Kola Adeleke, the Executive Director, Commercial Banking, Ecobank Nigeria, said that export finance remained a critical tool for businesses looking to expand globally as it was essential to find ways to break the barriers hindering businesses.
“Export finance can help businesses to bridge the funding gap that often occurs between production and payment, enabling them to take on larger orders and enter new markets.
“It is also crucial in managing risks associated with exporting, such as foreign exchange rate fluctuations, non-payment by overseas customers and political risks.”
Adeleke said that Ecobank remained the bank to partner with in terms of getting ahead of trade export business in Nigeria.
“Our unique positioning in 33 African countries enables us to leverage our extensive network to reduce the number of financial partners and relationships in executing trade.
“We own the switch connecting countries where we operate across Africa.
“This centralised switch enables easy integration.
“We possess knowledge of the local markets in which we operate resulting in unparalleled financial advisory.
“We offer real-time settlement across Africa and our customers enjoy instant transfers across 33 African countries.
“Ecobank has a reputation for developing innovative products as the bank has won us several international, regional, and local awards and we aspire to be the gateway to pan-African payments and trade,” he said.
The seminar provided the participants with insights into the various financing options available for exporters, regulatory frameworks, and the role of public and private sector institutions in promoting exports.
Presentations were also made on the role of export credit agencies such as NEXIM in supporting export finance and exploring the challenges faced by businesses. (GBN)
