Société Générale Ghana (SocGen) is pitching its Finasia trade finance offering to Chinese exporters in a bid to win more letter of credit (L/C) business for transactions between China and Ghana.

The bank made its latest pitch at a high profile business banquet at the Tang Palace Hotel in the Ghanaian capital of Accra.

Pre-financing offering

Speaking at the event, head of SocGen's global banking transaction team, Celestine Amison-Addy, said the bank's Finasia offering would enable the pre-financing of Asian exporters' L/Cs and added that the service was especially aimed at Chinese exporters.

Exporters are paid when the goods are shipped, she explained, while the importer in Ghana will only pay when the L/C matures.

This improves the liquidity of the Chinese client's business in Ghana and frees up capital to invest in other areas of growth she added.

High-level pitch

Representatives of over 80 major Chinese companies attended the banquet.

Also in attendance was Sun Baohong, China's ambassador to Ghana and Lui Kang, managing director of the massive Chinese telecommunications giant, Huawei, which is building a formidable market position in Africa.

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