HONG KONG -- Nigeria-listed Access Bank has recently opened a branch in Hong Kong with the aim of capturing the growing trade financing needs by businesses in Africa, the Middle East and China.
The lender's debut in East Asia comes as China deepens ties with Africa and the Middle East amid geopolitical tensions with the West. The second largest economy's trade with Africa alone grew 35% to $282 billion in 2023, compared to 2019. China and Hong Kong businesses have also pivoted toward the Middle East by launching financial products and building manufacturing capabilities.
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