Ecobank, Bank of China eye yuan settlement platform to cut dollar dependence

Ecobank Adire Lagos experience strengthens SME market access Hope Moses-Ashike Ecobank Nigeria has reaffirmed its commitment to supporting small and medium enterprises (SMEs) by providing a platform that connects entrepreneurs with customers, business partners and new markets through the fifth edition of the Ecobank Adire Lagos Experience. The four-day fair, which held recently at the Ecobank Pan African Centre (EPAC) in Lagos, attracted more than 30,000 visitors, shoppers, exhibitors, industry stakeholders and cultural enthusiasts, underscoring its growing role in promoting indigenous businesses and African craftsmanship. Hundreds of exhibitors showcased a wide range of products, including Adire fabrics, fashion accessories, footwear, leather products, arts and crafts, beauty products and other locally made goods. The event created opportunities for entrepreneurs to engage directly with customers, access new markets, establish business partnerships and expand their professional networks. This year’s edition also drew a distinguished audience, including former President Olusegun Obasanjo, Nobel Laureate Wole Soyinka, Lagos State First Lady Ibijoke Sanwo-Olu, captains of industry, senior banking executives, traditional rulers and their spouses, government officials, members of the diplomatic corps, development partners and other notable personalities. Exhibitors commended Ecobank Nigeria for creating a platform that enabled them to showcase their products, boost sales, interact directly with customers and generate valuable business leads. Visitors and shoppers also praised the bank for sustaining the initiative over the years, noting that it has evolved into a major platform for promoting local enterprise, creativity, cultural tourism and African craftsmanship. Bolaji Lawal, managing director and regional executive of Ecobank Nigeria, thanked exhibitors, partners, customers, government agencies, members of the diplomatic community, the media and thousands of visitors for contributing to the success of the event. According to him, the outcome of this year’s edition reinforces Ecobank’s commitment to supporting SMEs, promoting local industries and creating sustainable opportunities for businesses to grow. “We are delighted with the tremendous turnout and positive impact recorded during this year’s Ecobank Adire Lagos Experience. We sincerely appreciate all our exhibitors, partners, customers, guests, and visitors who contributed to making the event a remarkable success,” Lawal said. “Their continued support inspires us to create platforms that empower entrepreneurs, preserve our cultural heritage, promote intra-African trade and stimulate economic growth.” Since its inception, the Ecobank Adire Lagos Experience has grown into one of Nigeria’s leading cultural and business exhibitions, providing entrepreneurs with a marketplace to showcase their products while celebrating the heritage, creativity and global appeal of Adire and other indigenous African products.

Ecobank Transnational Incorporated is in advanced talks with Bank of China to launch a direct local-currency-to-yuan settlement platform by year-end, as trade ties between Africa and China deepen. The proposed platform would allow businesses to settle transactions directly in Chinese yuan, bypas

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Bunmi Bailey

Bunmi holds a degree in Economics from the University of Lagos and has over eight years of experience in content writing and journalism. Her career spans roles as a financial and business journalist at BusinessDay Media and TechCabal, and as Head of Research at SBM Intelligence, an Africa-focused market intelligence and strategic consulting firm. She also served as Editor at Finance in Africa, a subsidiary of Businessfront and is currently Assistant Editor, Finance (Africa), at BusinessDay.

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