VOIWORLD/CAPE TOWN
Consulate General of India that promotes Commercial relations between India & South Africa and extend consular services, e.g. passport, visa, OCI, attestation, etc. has organized workshop on Trade finance under the India Entrepreneurs Forum. The event was held at Johannesburg. The twitter handle of India in Johannesburg tweeted that they thank CEO of State Bank of India, Mr Ashutosh Kumar and Resident representative
India Exim Bank Mr. Shyamasish Acharya for their Presentations.
CEO of State Bank of India (SBI) Ashutosh Kumar and Shyamashish Acharya, Resident Representative at the Johannesburg Representative office of India Exim Bank, both explained the benefits of using their services in dealing with import and export trade between India and the African continent.
The India Entrepreneurs Forum (IEF) is The event was initiated by Consul General of India Mahesh Kumar who said it is the first of a series of ongoing engagements with the IEF.
India and South Africa have major trade ties. Not just the historic one but in the modern day too India and South Africa are close to each other.
For example India’s automobile major Mahindra and Mahindra is a major trade partner and its vehicles specially SUVs are very popular there
State Bank of India and the India Exim Bank are already helping businesses in African countries to fill the gap in trade finance.
“SBI is enabling India’s footprint in Africa, playing an important role in African trade by way of funding to South African banks through syndications,” Kumar said, adding that the bank had invested fresh capital and retained its earnings for the last 27 years in South Africa.
“SBI’s offerings include bilateral credit lines to multi-lateral institutions such as Afri-Exim, Africa Finance Corporation, and others. We also offer bilateral lines in the form of trade loans to the other major banks present in African countries,” Kumar said.
