STORY: Sino-African commercial ties unlock growth, mutual benefits: Kenyan banking executive
SHOOTING TIME: Jan. 31, 2025/file
DATELINE: Feb. 3, 2025
LENGTH: 00:02:29
LOCATION: Kenya
CATEGORY: ECONOMY

SHOTLIST:
1. various of exteriors of Stanbic Bank Kenya
2. interview of MUYA GUO
3. SOUNDBITE 1 (English): MUYA GUO, Head of the China Desk at the Stanbic Bank Kenya
4. various of China-Africa exhibition in Kenya (file)
5. various of clothing stores
6. SOUNDBITE 2 (English): MUYA GUO, Head of the China Desk at the Stanbic Bank Kenya
7. exteriors of Stanbic Bank Kenya

STORYLINE:

The two-way trade between China and African countries has been pivotal in accelerating the growth and modernization that the continent requires to remain competitive, a Kenyan banking executive said Thursday.

Muya Guo, head of the China Desk at the Stanbic Bank Kenya, said during an interview in Nairobi, the Kenyan capital, that enhanced Sino-African trade, combined with capital flow from the Asian nation, has placed the continent on a growth trajectory while modernizing key sectors like manufacturing.

The future of the Sino-African economic partnership looks promising, driven by both government and private sector investments, said Guo, adding that infrastructure, energy, and manufacturing projects will be prioritized.

SOUNDBITE 1 (English): MUYA GUO, Head of the China Desk at the Stanbic Bank Kenya
"We are also really looking forward to more private investments, like from China to Kenya, to build this relationship stronger. So for example, we are talking a lot about the PPP projects, like the private-public partnership. So we foresee more and more this kind of projects going to happen. And then also, when we are looking at the manufacturing industrial sectors, and we also already observe more and more Chinese manufacturers coming to Kenya to set up factories here, and to employ local staff, and also transfer knowledge."

In 2008, the Industrial and Commercial Bank of China acquired a 20 percent shareholding in the Standard Bank Group, a leading African financial organization and the parent company of the Stanbic Bank Kenya, paving the way for strategic partnership with Chinese enterprises and fostering Sino-African trade, Guo said.

She emphasized the need to promote mutual understanding between Chinese and African entrepreneurs, given their diverse cultural environment backgrounds.

SOUNDBITE 2 (English): MUYA GUO, Head of the China Desk at the Stanbic Bank Kenya
"We are trying to support our clients, Kenyan and African exporters to understand the Chinese market, to facilitate or support them to find the right Chinese buyers and to help them export the necessary goods to China."

She disclosed that the Standard Bank Group has built a solid financial infrastructure to facilitate Sino-African trade and investments, stressing the need to align financial solutions to reflect the aspirations of clients from both sides.

Xinhua News Agency correspondents reporting from Kenya.
(XHTV)