{"id":104007,"date":"2023-10-02T20:39:42","date_gmt":"2023-10-02T20:39:42","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade"},"modified":"2023-10-02T21:43:03","modified_gmt":"2023-10-02T21:43:03","slug":"absa-strengthens-china-desk-to-boost-trade","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade","title":{"rendered":"Absa strengthens ‘China Desk’ to boost trade"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Absa Bank has strengthened its ‘China Desk’ as it seeks to continue offering tailor-made solutions to the growing Chinese investors and businesses operating in Kenya and the East African region.<\/p>\n

According to the lender, the desk, which is fully staffed with Mandarin-speaking professionals, will enable the bank provide banking services such as project financing, trade financing, foreign exchange and hedging and cross-cultural expertise.<\/p>\n

It will also provide CPF financing and access to a global network of experts, as China remains a key trade and investment partner with Kenya.<\/p>\n

Absa bank\u2019s managing director and CEO Abdi Mohamed said the move is aligned to Absa\u2019s strategic priority to become a regional powerhouse in corporate and investment banking for clients looking to grow and expand their businesses.<\/p>\n

\u201cThe establishment of the China Desk is a response to the increasing demand for financial services and expertise in facilitating trade and investment between Kenya and China,” said the bank.<\/p>\n

China is one of Kenya\u2019s top trading partners and remains the single leading source of Kenya\u2019s imports, accounting for slightly over a quarter of total imports.<\/p>\n

Last year, the value of imports from China totalled Sh452.6 billion, the Economic Survey 2023 indicates, which was an increase from Sh441.4 billion in 2021.<\/p>\n

On the other hand, Kenya\u2019s exports to China were valued at Sh27.5 billion compared to Sh21.9 billion in 2021, representing a 25.8 percent increase.<\/p>\n

China has been a critical participant in Kenya\u2019s economic growth and development story over the last two decades, supporting modern infrastructure projects that have laid a solid foundation for long-term economic growth, the bank noted.<\/p>\n

Infrastructure project includes the SGR, Nairobi Expressway, major road across the country, port development, among others.<\/p>\n

“We recognise the immense potential for growth in this area and provide the financial tools and expertise required for businesses to thrive in both markets\u201d said Mohamed.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Absa Bank has strengthened its ‘China Desk’ as it seeks to continue offering tailor-made solutions to the growing Chinese investors and businesses operating in Kenya and the East African region. According to the lender, the desk, which is fully staffed with Mandarin-speaking professionals, will enable the bank provide banking services such as […]<\/p>\n","protected":false},"author":84,"featured_media":104006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-104007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nAbsa strengthens 'China Desk' to boost trade - kenya<\/title>\n<meta name=\"description\" content=\"Absa Bank has strengthened its 'China Desk' as it seeks to continue offering tailor-made solutions to the growing Chines ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Absa strengthens 'China Desk' to boost trade\" \/>\n<meta property=\"og:description\" content=\"Absa Bank has strengthened its 'China Desk' as it seeks to continue offering tailor-made solutions to the growing Chines ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T20:39:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-02T21:43:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/10\/sm_1696269230.723917.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Absa strengthens ‘China Desk’ to boost trade\",\"datePublished\":\"2023-10-02T20:39:42+00:00\",\"dateModified\":\"2023-10-02T21:43:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade\"},\"wordCount\":328,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/10\/sm_1696269230.723917.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/absa-strengthens-china-desk-to-boost-trade\",\"name\":\"Absa strengthens 'China Desk' to boost trade - 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