ABSA bank relaunches its China desk to support growing trade between Kenya and China

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Absa bank Managing director and CEO Abdi Mohamed

NAIROBI, Kenya Oct 3...The strategic initiative underscores the bank commitment to providing tailored financial solutions to support the growing trade between the two dynamic economies 

The new desk is fully staffed with mandarin speaking professionals will enable the bank provide banking services such as project financing , CPF financing , trade financing , Foreign exchange and hedging , Cross-cultural expetise and access to a global network of experts 

"The establishment of the china desk is a response to the increase of demand for financial services and expertise in facilitating trade and investment between Kenya and China" said Abdi Mohamed managing director and CEO Absa bank

China is one top trading partners and remains the single leading source of Kenya's imports , accounting for slightly over  quarter of total imports valued at KES 452.6 billion in 2022 according to 2023 economic survey report 

Subsequently Kenya's export to China were valued at KES 27.5 billion in 2022 compared to KES 21.9 billion in 2021 representing 25.8 percent increase 

"As the trade relations between the two nations countinue to flourish , Absa bank is well positioned to offer specialized support to businesses and individuals engaging in cross border transactions" reiterated Mohamed 


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