African exporters are making significant inroads at the China International Import Expo (CIIE) in Shanghai, marking a valuable opportunity for the continent’s businesses to access the world’s second-largest economy. The annual event, taking place from November 5 to 10, serves as the world’s largest import trade expo, attracting thousands of global buyers and promoting cross-border partnerships. This year, Standard Bank, through its Africa-China Trade Solution (ACTS) program, is representing export-ready African businesses at the expo, facilitating connections with potential Chinese buyers in sectors ranging from agriculture to skincare.
Andrew Robertson, Standard Bank’s Head of Business Enablement in Business and Commercial Banking, emphasized the unique opportunities presented by CIIE for African companies looking to expand into the Chinese market. “Our strategic partnership with the world’s largest bank, Industrial and Commercial Bank of China (ICBC), gives us a competitive advantage in the Africa-China corridor,” Robertson said, underscoring the bank’s commitment to fostering economic growth across Africa. The presence of Standard Bank’s bilingual English-Mandarin team at CIIE reflects the institution’s dedication to supporting African exporters and simplifying their engagement with Chinese clients.
In 2023, African businesses at CIIE, with support from Standard Bank, engaged in diverse trade transactions involving products such as seafood, nuts, aloe vera skincare products, rooibos tea, wine, sesame, ginger, and coffee. The expo attracted 400,000 registered Chinese buyers last year, leading to deals valued at $78.4 billion. The event’s scale and impact underline its potential for transforming the growth trajectories of participating African businesses. According to Robertson, the bank’s role in hosting African clients at CIIE goes beyond representation; it aims to cultivate enduring partnerships that will allow African businesses to convert trade opportunities into substantial growth.
Notable African and international trade partners have also joined the CIIE event, including Wesgro, South Africa’s trade and investment agency; the Ghana Export Promotion Authority; and the Chinese Chamber of Commerce for Foodstuffs. Wrenelle Stander, Wesgro’s CEO, highlighted China’s role as a crucial export market for South Africa, noting that exports from the country to China reached R227.83 billion in 2023. Stander expressed optimism about forging new trade relationships for Western Cape’s “Made in the Cape” products, such as rooibos tea and wine, through the expo and the partnership with Standard Bank.
As part of its efforts to bolster Africa-China trade, Standard Bank also participates in the biennial China-Africa Economic and Trade Expo, a significant platform supporting economic cooperation in alignment with the Forum on China-Africa Cooperation goals. During this year’s CIIE, Standard Bank and ICBC are co-hosting a focused matchmaking event, designed to connect African exporters with verified Chinese buyers. More than 30 African businesses are expected to showcase agricultural products, including avocados, fruit, spirits, sesame seeds, beef, and handmade leather handbags.
The participating African nations represent a diverse cross-section of the continent, including South Africa, Uganda, Zambia, Ghana, Nigeria, Kenya, Zimbabwe, Lesotho, Angola, and Malawi. After CIIE, Standard Bank will continue supporting African exporters at ProWine Shanghai 2024 from November 12 to 14, showcasing South African wines in collaboration with Wines of South Africa, Wesgro, and the Chenin Blanc Association.
Robertson remarked that Standard Bank’s unique capabilities in Africa-China trade, supported by its alliance with ICBC, create unparalleled growth opportunities for African businesses on the international stage. By enhancing the exposure of African goods and fostering strategic partnerships at events like CIIE, Standard Bank remains committed to driving Africa’s economic growth through targeted support and strategic market access.
