Standard Bank hosts trade webinar
Navigating trade hurdles
The blue bank recently hosted a trade webinar aimed at helping businesses and individuals navigate trade issues on the African continent.
Standard Bank Namibia hosted a highly informative trade webinar titled 'Navigating the trade rnvironment in Namibia: Identifying opportunities for businesses' on Thursday, 10 October. The session provided valuable insights into the challenges and opportunities present in Namibia's trade environment and showcased the bank’s commitment to supporting businesses through innovative financial solutions.The webinar brought together trade experts to discuss critical topics. They shed light on the intricacies of conducting trade within the country, across the African continent and globally. The panel included Maria Immanuel, an international trade expert and digital trade entrepreneur specialising in trade policy and regional market expansion, and Emilia Uupindi, relationship manager for trade at Standard Bank, a finance expert focused on trade solutions and risk mitigation.
Key points discussed included the trade environment overview. Immanuel presented a comprehensive overview of Namibia’s current trade environment, highlighting both the opportunities and barriers businesses face, including access to markets, high customs duties and limited access to finance and international trade agreements available to Namibian businesses, emphasising the African Continental Free Trade Agreement (AfCFTA) as a key enabler for growth. Uupindi provided insights into the various financial solutions available to businesses, such as letters of credit to mitigate payment and performance risks, and currency hedging to manage foreign exchange fluctuations. She also emphasised the importance of securing insurance for logistics and transport-related risks.
The panel also highlighted future trends likely to impact trade in Namibia, particularly the growing youth population in Africa, which presents both opportunities and challenges. Immanuel noted: “Africa will soon have the largest youth population. While this is a tremendous opportunity, it can become a threat if we don’t create decent economic opportunities for young people to innovate and contribute productively".
As businesses look to expand into international markets, both experts stressed the importance of staying informed. “Information is power,” Uupindi said. “Businesses must empower themselves with knowledge to navigate the complexities of international trade, and Standard Bank is here to provide expert advice and risk mitigation solutions.”
The webinar positioned Standard Bank as a key financial partner for businesses looking to expand their trade activities. “Namibia is our home; we drive her growth,” said Uupindi. “Trade lies at the heart of business activities, and through trade, we can grow businesses and the Namibian economy.”
In her closing remarks, she emphasised Standard Bank’s commitment to helping businesses thrive: “We see solutions everywhere, and so do our clients. More is possible with Standard Bank by your side”. The bank encouraged all businesses to explore its wide range of trade solutions designed to facilitate growth, both locally and internationally.