Ecobank, LCCI join forces to boost exports

The Ecobank Nigeria and The Lagos Chamber of Commerce and Industry have collaborated to offer guidance on financing choices, regulatory frameworks, and the roles of public and private institutions in advancing the growth of export businesses.

In a statement released, The President of LCCI, Dr Oladele Cole, said, “Breaking barriers to export finance is critical to stakeholders in the export and import business.

“The seminar organised was targeted to expose and sensitise the industry stakeholders on the potentials and rich possibilities locked in the industry.”

Further speaking, the Executive Director of Commercial Banking, Ecobank Nigeria, Kola Adeleke, mentioned that export finance remains a critical tool for businesses looking to expand globally, noting that it was essential to find ways to break the barriers that hinder businesses from accessing it.

He added, “Export finance can provide businesses with the necessary funds to overcome the financial obstacles that typically occur between production and payment, which can allow them to pursue larger orders and expand into new markets, while also managing the various risks that come with exporting, such as foreign exchange rate fluctuations, non-payment by overseas customers and political uncertainties.”

According to Adeleke, partnering with Ecobank is the best option for companies looking to gain an advantage in the trade export business in Nigeria.

Notably, “The bank’s extensive presence in 33 African countries allows us to use our vast network to minimise the number of financial partners and relationships needed to execute a trade. We also have a central switch that connects the countries where we operate, which allows for easy integration. Whereby our in-depth knowledge of the local markets in which we operate results in unparalleled financial advice.”