Chinese investors and businesspeople operating in Kenya and East Africa will access banking services after the relaunch of the China Desk by Absa Bank Kenya.
The new desk, which is fully staffed with Mandarin-speaking professionals, will offer project and trade financing as well as foreign exchange and hedging, cross-cultural expertise, and access to a global network of experts."The establishment of the China Desk is a response to the increasing demand for financial services and expertise in facilitating trade and investment between Kenya and China," Absa Bank's Managing Director and CEO, Abdi Mohamed, said.
China is one of Kenya's top trading partners and remains the single leading source of Kenya's imports, accounting for slightly over a quarter of total imports valued at Sh452.6 billion in 2022, according to the 2023 Economic Survey Report. "Indeed, China has been a critical participant in Kenya's economic growth and development story over the last two decades, supporting modern infrastructure projects that have laid a solid foundation for Kenya's long-term economic growth," Mohamed stated.
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