By Tikondane Vega
Nassau, June 15, Mana: At the just ended three days 31st African Export-Import Bank (Afreximbank) meeting in Nassau, Bahamas, FDH Bank told the gathering that digital transactions and Small and medium-sized enterprises (SMEs) have been key to the bank's growth.
Deputy Managing Director, George Chitera Friday panel discussion titled “Unlocking the Opportunities to African Trade and Finance through Africa Trade Gateway (ATG) platform”.
The ATG is one portal that gives access to digital platforms such as customer due diligence platform, the Pan-African Payment and Settlement System (PAPSS), a scheme that enables payment for intra-African trade in national currencies; the Tradar Club, a network for international businesses aimed at fostering growth in Africa; e-commerce platform the Africa trade exchange and ATG Connect, which provides freight and logistics connectivity solutions.
During the discussion, Chitera said SME banking continues to be a focal point for FDH Bank as a growth engine, evidenced by annual growth for the past years, Malawi Stock Exchange-listed Bank has been operating.
He said, “As pioneers of ATG in Malawi, the service came as an opportunity for the bank that champions growth and took it as a great avenue for growth since it enables the Bank better deliver on its mandate by providing critical services to support and promote African trade and the implementation of the African Continental Free Trade Agreement (AfCFTA).
“The Bank aspires to stay committed by supporting SMEs and reaffirms its commitment to providing cutting-edge digital solutions in response to the growing importance of e-commerce in Malawi and beyond.
In his contribution to the discussion, Executive Vice President for Global Trade Bank under Afrexim, Haytham ElMaayergi said the coming of ATG as digital evolution was part of its deliberate strategic response to address Africa’s key challenges to accelerate the pace of development and foster economic prosperity for Africans using and applying digital technologies and business models.
“Each one of our digital interventions is designed to address identified challenges and barriers for those seeking to engage in African trade and investment. I am pleased that each intervention has been successfully transformed from concept to reality and commend the hard work of our colleagues and partners in achieving these milestones.
“The Gateway is intended to “quicken regional integration, extend and create new access markets and accelerate the digital economy in Africa. Customers will be able to complete all their transactions within the one window,” he said while urging all people in different countries to make use of the opportunity to complete their dreams.
