Economy

BRAZILIAN BANK OFFERS SUPPORT TO SADC IMPORTS AND EXPORTS

São Paulo ~ Fri, 02 April 2021

By Brightwell Chabusha

Standard Bank Brazil, one of the major financing institutions in Sub Saharan Africa, says it is ready to fund import and export sectors between Southern African Development Community (SADC) member States and Brazil.

Speaking from Sao Paulo when she addressed Brazil’s SADC Group of Ambassadors during a virtual meeting, Standard Bank Brazil Chief Executive Officer Natalia Dias said she was gratified that the financial institution had already set the ball rolling with the Sugar and Bio Fuel sectors in Zambia.

Ms Dias said Standard Bank Brazil, that trades as Stanbic Bank in Africa has renewed its commitment in supporting the SADC region in developing sectors such as Agricultural Technology, Construction, Manufacturing and Mining through providing financial aid to boost the economies of individual African countries.

She encouraged the SADC Head of Missions to select investment projects in the Agricultural Sector that can easily transform the country’s food security and enhance the Gross Domestic Product (GDP).

And Zambia’s Ambassador to Brazil Dr Alfreda Kansembe- Mwamba is elated with the Financial Institution’s commitment of supporting sectors that are instrumental to economic growth such as Agriculture and Manufacturing.

She told the banking group that funding the sectors in Zambia should be prioritized as both the Government and the private sector stand
ready to promote trade and investment.

Ambassador Kansembe-Mwamba called on the Bank to support Africa in business ventures that have the capacity to improve imports and
exports of individual countries.

Meanwhile, Brazil’s SADC group of Ambassadors Chairperson Gamiliel Munguambe who is also Mozambique’s Ambassador to Brazil, described
SADC and Standard Bank of Brazil business meeting, aimed at promoting trade and investment opportunities in Africa as a back-bone to
economic sustainability.

All the SADC diplomats in Brasilia were unanimous in their plea for Standard Bank Brazil, a representative office of South Africa’s Standard Bank group, to provide financial muscle to the trade between
SADC and Brazil.

This is according to a statement issued by First secretary press and public relations at the Zambian Embassy in Brazil.

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