LOMÉ – Four affiliates of the leading pan-African banking Group, Ecobank Group, have won the coveted ‘Best Trade Finance Provider 2023’ Award in their respective countries. The affiliates, specifically Ecobank Burkina Faso, Côte d’Ivoire, Ghana and Rwanda received this recognition from the renowned Global Finance magazine’s World’s Best Trade Finance and Supply Chain Finance 2023 Awards. They each received their award during the BAFT Europe Bank-to-Bank Forum in London.
Jeremy Awori, CEO, Ecobank Group, said “The African Continental Free Trade Area, with its single African market of almost 1.4 billion people, has created unique and immense growth opportunities for Africa’s SMEs and corporates. Ecobank’s investments in technology and innovative products and services, together with our pan-African platform, have hit the mark in delivering trade finance, payments and collections solutions that help our customers trade across Africa’s borders. Public recognition of the quality of the trade finance capabilities of four of our affiliates by Global Finance is highly appreciated. We remain determined in our focus on providing excellent customer service and experience.”
In selecting the winners of the best trade finance providers award in the respective countries, Global Finance’s judges took account of input from industry analysts, corporate executives and technology experts. Criteria for choosing the winner included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.
Ecobank Group and all its affiliates provide comprehensive trade solutions to their customers using various payment methods to facilitate cross-border and domestic trade throughout and beyond its network across Africa. Ecobank offers unique intra-Africa trade solutions, enabling its customers to settle their domestic and international trade transactions efficiently while mitigating payment risks. Ecobank works closely with clients in reviewing key aspects of transaction processing, including Settlement, Financing, Risk Mitigation, Credit Enhancement and applicable Exchange Control Regulations.
Its Trade Products and Solutions include Structured Trade & Commodity Finance (customers benefit from adequate, mitigated credit facilities); Trade Services (customers experience speedy turnaround and error-free processes); and Supply Chain Finance (one-stop end-to-end value chain and supplier financing locally and across regional corridors). Trade services provided include import/export Letters of Credit; import/export collections; bills avalisation (SBLCs, guarantees, bid, performance and other bonds; and regional trade payments); Rapidtransfer (cross-border remittances); and international payment services.