Access Bank, German firms move to boost N637bn bilateral trade

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Access Bank in collaboration with German Investment Corporation (DEG), and Delegation of German Industry and Commerce in Nigeria (AHK Nigeria), yesterday, unveiled the first German Desk in Nigeria, aimed at increasing the 2.9 billion euros bilateral trade between Nigeria and Germany.
Data by the Nigerian German Business Association (NGBA) revealed that volume of trade between the two countries fell by 46 percent to N637 billion (2.9 billion euros) in 2015 from about N2.3 trillion (5.4 billion euros) in 2014. The German Business Desk was developed to reverse this trend by expanding opportunity for business growth and collaboration between Germany and Nigeria.
Speaking at the unveiling ceremony in Lagos, Group Managing Director/Chief Executive Officer, Access Bank, Herbert Wigwe stated: “This collaboration with a first rate partner like DEG, leveraging on their global investment footprint and our local industry expertise in setting up a German Desk, is the first of such initiatives in the country. “This desk which will be bi-lingual will provide customized long term and cost effective financial solutions to our clients available to conduct business with German corporates. This we believe will boost positively, the trade relations between Germany and Nigeria at large.”
Also speaking at the event, DEG, Bruno Wenn, stated: “Jointly with our customer, Access Bank, DEG wishes to support German companies and their trading partners. Within the scope of the ‘German Desk – Financial Support and Solutions’ we offer innovative financing solutions tailored to the needs of German companies and their local partners. They can get information about financial services from a single source and make direct use of the partners’ network on location.” According to the representative of AHK Nigeria, Dr. Marc Lucassen, the German Desk would help to fill the gap that has been in existence in the Nigerian-German business relations. “We are very much in favour of this landmark partnership which provides the required solutions to recent demand for additional financial support mechanism for the Nigerian-German business relations. Our role is to connect the Nigerian-German business partners to the German desk in Access Bank in terms of financial solutuions, ‘Lucassen said.

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