Standard Bank launches ACAP

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By Kefiloe Kajane

Standard Lesotho Bank this week launched ACAP in a partnership with DHL Lesotho in an endeavor to facilitate trade and make it easier for Basotho to import goods from China.

In a statement by the bank, it stated that it has introduced the Africa China Agent Proposition (ACAP), a new trade facilitation offering for businesses and individuals in collaboration with DHL Lesotho, a leading global shipping and logistics company in a partnership that is intended to make it affordable for Basotho to import goods.

The Bank said with ACAP, it will connect Basotho entrepreneurs and individual buyers of goods with specialized agents and manufacturers in China to facilitate the seamless sale of high-quality goods that meet their full specifications and international benchmarks and certifications. It further said that the offering also covers other barriers such as language, making it easy and convenient for Basotho to find quality goods cheaper and easier in the comfort of their homes.

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“This offering also arranges for customs clearance and shipping of goods by DHL Lesotho, which provide up to 40 percent and 60 percent discount for Basotho importers. The ACAP offering comes at a time when international travel is becoming more expensive and highly restricted at the wake of the Covid-19 pandemic and it provides a necessary intervention to address these challenges.

“It is bringing convenience and reduction of costs, whilst at the same time ensuring that Basotho businesses get high quality products and value for money, in the convenience of their homes and businesses. The solution is an end-to-end offering which also signals the importance of collaboration for the convenience of the customer, through the collaboration with DHL, who are also an international freight forwarder of note with extensive experience in the Africa-China corridor,” the statement said.

According to the statement, DHL country manager Khethang Ramalefane said they are delighted to have partnered with Standard Lesotho Bank to provide the unique and cutting-edge solution for the benefit of Basotho.

“For us as DHL, we bring expertise of over 50 years in the business. Operating in over 220 countries globally, we certainly bring value in this partnership and we are indeed honored to have been approached by the Bank of Stature, who are the best in Lesotho and Africa,” Ramalefane said.

Standard Lesotho Bank said the launch of ACAP in partnership with DHL is also in keeping with the strategy of the Bank to connect Lesotho to the world.

It explained that it is also a requisite enabler to Africa-China trade which is also poised to increase Lesotho’s footprint on digital economy.

“The offering is also aligned to Lesotho’s National Strategic Development Plan II on matters relating to trade, especially Between Lesotho and China, which is estimated to account for 17 percent of all imports to Lesotho valued at around M4billion,” the statement read.

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