Standard Bank Brazil which is one of the major financing institutions in Sub Saharan Africa says it is ready to fund import and export sectors between Southern African Development Community (SADC) member States and Brazil.
Speaking when she addressed Brazil’s SADC Group of Ambassadors during a virtual meeting, Standard Bank Brazil Chief Executive Officer Natalia Dias said she was gratified that the financial institution had already set the ball rolling with the Sugar and Bio Fuel sectors in Zambia.
Ms Dias said Standard Bank Brazil, that trades as Stanbic Bank in Africa has renewed its commitment in supporting the SADC region in developing sectors such as Agricultural Technology, Construction, Manufacturing and Mining through providing financial aid to boost the economies of individual African countries.
“I therefore encourage the SADC Head of Missions to select investment projects in the Agricultural Sector that can easily transform their country’s food security and enhance the Gross Domestic Product (GDP),” she said.
And Zambia’s Ambassador to Brazil Alfreda Mwamba is elated with the financial institution’s commitment to support sectors that are instrumental to economic growth, such as agriculture and manufacturing.
Dr Mwamba told the banking group that funding the sectors in Zambia should be prioritised as both government and the private sector stand ready to promote trade and investment.
Mr Mwamba further called on the Bank to support Africa in business ventures that have the capacity to improve imports and exports for individual countries.
Meanwhile, Brazil’s SADC group of Ambassadors Chairperson Gamiliel Munguambe who is also Mozambique’s Ambassador to Brazil, described SADC and Standard Bank of Brazil business meeting as a back-bone to economic sustainability.
The meeting was aimed at promoting trade and investment opportunities in Africa.
All the SADC diplomats in Brasilia were unanimous in their plea for Standard Bank Brazil, a representative office of South Africa’s Standard Bank group to provide financial muscle to the trade between SADC and Brazil.
This is contained in a statement issued to the media in Lusaka today by First Secretary for Press and Public Relations at the Zambian Embassy in Brazil, Grace Makowane.