Dar's Ecobank launches China Desk

Ecobank Tanzania, an affiliate of the Ecobank Group, has launched the China Desk in Tanzania to support emerging business opportunities, international trade, infrastructure projects and investments between Tanzania and China.

It has also started direct trading of the Chinese currency (RMB), targeting Chinese businesses as well as Tanzanian businesses that trade directly with China. 

According to Mr Enoch Osei–Safo, the Ecobank Tanzania Managing Director, the desk will offer full range of banking services to Tanzanians and Chinese, helping them to overcome language and exchange rate barriers. The event attracted some 180 people mainly from the Chinese community.

“The Ecobank Group’s strategic partnership with the Bank of China aims at supporting Sino-African trade and investment which is growing in leaps and bounds. 

With bilateral trade between Tanzania and China hitting $ 2.5 billion last year, it is little wonder that Tanzania was the first African country visited by the Chinese President, Xi Jinping, since he assumed presidency.

Trade between China and Tanzania grew by 15 per cent last year; it is an opportunity for us to have a dedicated China desk in Tanzania, similar to what we have been doing in other African countries,” said Mr Osei–Safo. 

With 25-year experience in 32 African countries, Ecobank Group has a successful record of accomplishment in serving Chinese businesses in Africa.

The group, through a global account management structure based in China, serves Chinese businesses in multiple African countries. In 2012, the group opened the Beijing Representative office, which coordinates its relationship with Chinese businesses across Africa and manages relationships with Chinese officialdom.

Recently, Mr Zhou Yi, the owner of Hengxu Group of Companies with headquarters in Sichual Province in China revealed plans to invest about $700 million (over 1trn/-) to build a luxurious accommodation facilities at Tanzania’s Serengeti National Park.
Source: The Daily News, reported from Dar es Salaam
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