London – Citi has announced that it has been selected as a commercial partner for the 'Unlock Africa' initiative, launched this week by Africa House London.
The new initiative is designed to help U.K. and Africa businesses to trade effectively, to stimulate trade, commerce and inward investment. Supported by both U.K. and African public sector organizations, the initiative will provide practical assistance to both U.K. and African domiciled businesses to promote bilateral trade.
The program's emphasis is on the most innovative and fastest growing organizations in the U.K. and Africa; those that are experiencing the highest growth rates and have the opportunity to further scale-up within high potential markets. The initiative has been specifically designed to create a cohesive network of support for these businesses by providing access to resources and commercial partners, and will enable vetted businesses to connect with buyers, suppliers and distributors to increase trade, commerce and investment throughout Africa and the U.K.
The trade initiative mechanisms will be deployed through three modules—a cloud-based trading and collaboration platform; workflow and thought leadership resources; and an interactive and searchable customer relationship management database.
As a partner to the program, Citi will draw on its deep-rooted knowledge and experience of Africa, to provide financial solutions as well as thought leadership and practical advice on a range of services, with particular focus on providing guidance on the use of its trade documentary services and export and agency finance capabilities, to enable exporters and importers to experience frictionless trade across the region.
Akinsowon Dawodu, Sub-Saharan Africa Head, Citi, commented: "Africa is an attractive destination for business and investment. Citi has a deep long-standing commitment to Africa. We serve clients in over 36 African countries and are investing in our workforce, expanding our financial solutions and creating new relationships. We are delighted to have been selected as a partner to support this initiative."
Emmanuel Finndoro-Obasi, Business, Trade & Investment Director for Africa House London, commented: "Africa House London is dedicated to supporting businesses trade and export to and from Africa in a post Brexit and post pandemic world. We are excited to be working with Citi as a Commercial Partner on this important initiative. Commercial Partners such as Citi are key in responsibly providing financial services to their clients that enable growth and economic progress for both the U.K. and Africa."
Africa House London is a U.K. trade and investment agency that has been formed to build links between U.K. and African businesses, to increase trade between the two regions, and to build sustainable wealth for the U.K. and Africa.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Belinda Marks, Belinda.email@example.com