Standard Bank CEO Highlights Impact Of ICBC Partnership On Africa-China Trade Relations

This timely move slashed costs for African products and opened the door to a new era of seamless trade and opportunity.

“This is extremely significant,” said Bill Blackie, chief executive officer of Business and Commercial Banking at Standard Bank Group. “It reflects the precision and forward-thinking nature of how China implements trade policy. The fact that it was announced on the eve of CAETE underscores the strategic alignment between trade diplomacy and real economic opportunity.”

Against the vibrant backdrop of CAETE — Africa’s largest trade platform in China, now in its fourth edition — a 48-member delegation from 10 African countries showcased premium products spanning agriculture, natural wellness, and handcrafted lifestyle goods.

Driving market access

With over 12,000 delegates and 2,800 organisations participating, the expo reaffirmed its critical role in deepening commercial connectivity between Africa and China.

Standard Bank, through its Business and Commercial Banking division, facilitated the participation of companies from South Africa, Kenya, Ghana, Mozambique, Tanzania, Nigeria, Zambia, Uganda, Botswana, and Malawi.

Leveraging its 17-year strategic partnership with China’s Industrial and Commercial Bank (ICBC) and the Hunan Provincial Government, it continues to play a pivotal role in helping African exporters unlock access to Chinese markets.

“We are committed to turning possibilities into opportunities, and opportunities into growth, for the vibrant businesses that power Africa’s economy,” said Blackie. “We are deliberate about building capacity, opening access, and removing friction so that Africa’s businesses can scale and win.”

Strengthening trade partnerships

Highlighting China’s growing significance as a key trading partner, Wesgro chief executive officer, Wrenelle Stander said: “As we pursue our bold objective of tripling exports by 2035, deepening our engagement with China will be essential to unlocking new trade opportunities. It is within this context that our participation in CAETE 2025 proved so significant.

"Enabled by our strategic partnership with Standard Bank Group and ICBC, and in collaboration with the Hunan Department of Commerce, the expo provided a valuable platform to position the Western Cape as a premium export region.

"It also allowed us to connect local businesses with high-potential buyers across key sectors, bringing our strategy to life in an impactful way. We are deeply grateful to the Standard Bank Group for their continued partnership as we work to expand the Western Cape’s global footprint.”

This reaffirmed China’s position as one of South Africa's most important export markets, with total exports from the Western Cape to China reaching R11.76bn in 2024.