—At China Sourcing Symposium
Hopolang Mokhopi
IN a landmark initiative aimed at empowering local entrepreneurs, Standard Lesotho Bank (SLB) has announced its partnership with XPORT, a prominent local firm specialising in global commodity sourcing.
This collaboration was showcased at the one-day China Sourcing & Global Trade Symposium held at the Lehakoe Recreational and Cultural Centre over the weekend.
The symposium served as a vital platform for educating Basotho businesses on accessing international markets, particularly by facilitating direct imports from Chinese manufacturers.
By cutting out intermediaries, this initiative not only aims to reduce import costs but also opens new avenues for trade, helping to stimulate Lesotho’s economy.
As a major sponsor of the event, SLB demonstrated its commitment to fostering a business environment conducive to growth and entrepreneurship among Basotho.
“This symposium is about more than just connecting our local businesses to international markets; it’s about equipping them with the necessary tools to succeed and thrive,” said Manyathela Kheleli, SLB’s Brand and Marketing Manager for Communications and Sponsorships.
“We are committed to making sourcing from the world’s manufacturing hub easier for our businesses, allowing them to lower expenses and reach their full potential.”
The symposium featured sessions led by experts from XPORT, covering essential topics such as effective supplier engagement and recommendations for authentic sourcing websites.
These sessions were designed to provide practical guidance and enhance the capabilities of local businesses looking to navigate the complexities of international trade.
SLB’s involvement in this initiative aligns closely with its broader mission to finance global trade and stimulate economic growth in Lesotho.
The partnership with XPORT not only emphasizes SLB’s strategic role in facilitating trade but also highlights its long-standing commitment to supporting local enterprises and promoting self-reliance.
“With the right resources and backing, there are no limits to what Basotho entrepreneurs can achieve,” Mr Kheleli added. “We are transforming potential into real opportunities for the businesses that are vital to Lesotho’s economy.”
A significant advantage of SLB’s capacity to facilitate trade lies in its alliance with the Standard Bank Group and its robust partnership with the Industrial and Commercial Bank of China (ICBC), one of the world’s largest banks. This relationship allows SLB to offer advanced China Trade Solutions, including a comprehensive suite of Trade Finance products tailored specifically for local businesses engaged in international transactions.
Attendees of the symposium expressed enthusiasm and optimism about the prospects of direct sourcing from China, noting their eyes had been opened to the possibilities of importing directly, connecting to manufacturers and reducing costs.
The symposium not only acted as a workshop but also served as a bridge to international markets, driven by individuals and organisations dedicated to advancing Lesotho’s economic landscape.
SLB’s continued efforts reflect a commitment to nurturing a new generation of business leaders with a global outlook, ensuring that Basotho entrepreneurs are well-prepared to compete on a global scale.
As the symposium concluded, it became clear that SLB’s role extends beyond that of a traditional financial institution.
It is emerging as a dynamic facilitator of growth and a crucial partner in development for Basotho-owned enterprises. The bank’s ongoing dedication to fostering economic progress underscores the potential for local businesses to thrive in the global marketplace.
Additionally, the partnership between SLB and XPORT, highlighted through the China Sourcing & Global Trade Symposium, marks a significant step forward in empowering Basotho businesses. By breaking down barriers and building pathways for entrepreneurs, SLB is not just reshaping the current business landscape but also laying the groundwork for a more prosperous future in Lesotho’s economy.
