By Namugerwa Martha
Stanbic Bank Uganda has strengthen the China- Africa business partnership through the Stanbic China forum that was hosted by Stanbic bank today.
Kevin Wingfield, head personal and business in stanbic bank says that China has helped Uganda financially in many projects like construction of roads railways which creates a good working atmosphere between the two countries.
Wingfield added that Stanbic Bank can help transact on behalf of Industrial and Commercial Bank of China ( ICBC), manage their currency risk, meet compliance requirements if doing business with China.
“We offer project finance- guarantee, contract and supplier finance for power and infrastructure projects,” Wingfield said.
He added that they have the online trading portal to deal, research and view money markets such as yuan which is the largest currency for international payments as it is 1-7% of the transaction global market.
ICBC official Wang Changsheng said that
China’s biggest market for its products is in Africa and this creates a bond of business with Africa as well as Uganda at large.
“China has helped in the construction of Entebbe Express highway, standard Gauge Railways in the Malaba -Kampala railway and many other projects,” Changsheng said.