Tete hosts first Standard Bank Expresso
Aimed at presenting financing solutions to small and medium scale enterprises (SMEs), Standard Bank organized on April 24, in the city of Tete, the first Standard Bank Expresso, which brought together nearly 100 economic agents and customers of the Bank, under the theme “Doing business in Mozambique”.
During the meeting, Standard Bank presented the prospects of the national economy, focusing in Tete, the business cycle, the Exchange Act and its impact on business, foreign exchange solutions, including ‘FX option’ innovative product, which gives the customer the right but no obligation to buy or sell foreign currency at a fixed price and date.
According to the Director of Private Banking, Small and Medium Scale Enterprises of Standard Bank, Chuma Nwokocha, the initiative which will be replicated soon in other cities of the country, is intended to establish a platform of approach and continuous engagement with the Bank’s clients and business partners.
“The meeting focused on the implications of the economic transformation of the development in the global context, the implications of macroeconomic policies on the business and also discussed how Standard Bank, as a partner in business, can, through its products and services, help in the growth of local businesses”, said Chuma Nwokocha.
“Last year, the GDP-Gross Domestic Product grew in the city of Tete by 40 per cent, mainly driven by the development of mining activities, a remarkable growth is also expected this year, something that contributes to the increase of economic agents”, said the Director of Standard Bank’s Private Banking and Small and Medium Scale Enterprises.
Alfredo Padamo, Chief Executive of the distribution company of electrical and construction materials, Eyeshop, said about the purpose of the initiative that “here, many doubts that existed within the local business community on the operations and laws were clarified, especially the change of the Exchange Act affecting largely companies operating
in the international market”.
“Standard Bank informed us about the economic growth of each province of Mozambique, including data related to the province of Tete, which we, the local business operators, were completely unaware of”, said Alfredo Padamo.
On his turn, Adelino Khan, manager of the Autokhan Company afirmed that Standard Bank Express is a good initiative because “there were many currency exchange issues and other essential tools, as well as details which we previously did not understand, but which were properly explained in the forum”.
Note that Standard Bank Express will also be promoted in others cities of the country.
During the meeting, Standard Bank presented the prospects of the national economy, focusing in Tete, the business cycle, the Exchange Act and its impact on business, foreign exchange solutions, including ‘FX option’ innovative product, which gives the customer the right but no obligation to buy or sell foreign currency at a fixed price and date.
According to the Director of Private Banking, Small and Medium Scale Enterprises of Standard Bank, Chuma Nwokocha, the initiative which will be replicated soon in other cities of the country, is intended to establish a platform of approach and continuous engagement with the Bank’s clients and business partners.
“The meeting focused on the implications of the economic transformation of the development in the global context, the implications of macroeconomic policies on the business and also discussed how Standard Bank, as a partner in business, can, through its products and services, help in the growth of local businesses”, said Chuma Nwokocha.
“Last year, the GDP-Gross Domestic Product grew in the city of Tete by 40 per cent, mainly driven by the development of mining activities, a remarkable growth is also expected this year, something that contributes to the increase of economic agents”, said the Director of Standard Bank’s Private Banking and Small and Medium Scale Enterprises.
Alfredo Padamo, Chief Executive of the distribution company of electrical and construction materials, Eyeshop, said about the purpose of the initiative that “here, many doubts that existed within the local business community on the operations and laws were clarified, especially the change of the Exchange Act affecting largely companies operating
in the international market”.
“Standard Bank informed us about the economic growth of each province of Mozambique, including data related to the province of Tete, which we, the local business operators, were completely unaware of”, said Alfredo Padamo.
On his turn, Adelino Khan, manager of the Autokhan Company afirmed that Standard Bank Express is a good initiative because “there were many currency exchange issues and other essential tools, as well as details which we previously did not understand, but which were properly explained in the forum”.
Note that Standard Bank Express will also be promoted in others cities of the country.