Access Bank, German firms strengthens trade relations

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Access Bank Plc

Access Bank Plc with Germany and its companies are committed to promoting better trade relations.

Access Bank, DEG – Deutsche Investitions –  und Entwicklungsgesellschaft and  the Delegation of German Industry and Commerce in Nigeria (AHK Nigeria) are offering a new service for German SMEs and their local partners in Nigeria to deepen trade ties between both parties.

This will come through the “German Desk – Financial Support and Solutions”, which is expected to benefit from the support of the German Consulate in Lagos.

The German Desk will provide financial services, such as setting up accounts, providing short to medium-term credit lines, services for financing trade and transaction banking. This also includes financing solutions for local companies wishing to acquire German equipment or services, because German companies often start establishing business ties with local companies via their export business before they invest in emerging markets such as Nigeria. To do so, they need to obtain suitable financing solutions for their local clients.

As part of the cooperation, DEG puts its network at the disposal of the respective local partner bank and, where necessary, provides it with additional long-term capital, allowing them to offer financing for local customers of German companies. Neighbouring markets are also to be covered with the partner banks’ networks.

Group Managing Director/CEO, Access Bank Plc, Herbert Wigwe said, “At Access Bank, we are constantly searching for innovative ways to provide solutions to meet our customers’ needs. This collaboration with a first rate partner like DEG – Deutsche Investitions – und Entwicklungsgesellschaft leveraging on their global investment footprint and our local industry expertise in setting up a German Desk is the first of such initiatives in the country.”

“This desk which will be bi-lingual will provide customized long term and cost effective financial solutions to our clients available to conduct business with German corporates.”

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