Ecobank Ghana beats off competition from a host of other banks to win the prestigious award during the Global Finance Magazine’s World’s Best Trade Finance and Supply Chain Finance 2023 Awards, held during the Bankers Association for Finance and Trade (BAFT) Europe Bank-to-Bank Forum in London.

Daniel Sackey, Managing Director, Ecobank Ghana & Regional Executive AWA, revered the awards, noting that it is a proof that the bank is doing the right thing and now the best trade finance provider.

“We are positioning to be the preferred trade, payments and collections bank for SMEs and corporates, as we support and facilitate them to grasp the immense growth opportunities created by Africa’s new single market.

“We are maintaining our key focus on commodities financing, improving our customers’ experience, and leveraging our digital banking initiatives. This award provides welcome public recognition of our beneficial impact and is a tribute to the hard work, diligence, dedication, and intense customer focus of our staff on a daily basis.”
Daniel Sackey

What the Judges Take into Consideration

In selecting Ecobank Ghana as the best trade finance provider, Global Finance’s judges took into account input from industry analysts, corporate executives and technology experts. Criteria for choosing the winner included transaction volumes, scope of global coverage, customer service, competitive pricing, and innovative technologies.

Ecobank Ghana provides comprehensive trade solutions to its customers, using various payment methods to facilitate cross-border and domestic trade throughout and beyond its network across Africa.

Ecobank offers unique intra-Africa trade solutions, enabling its customers to settle their domestic and international trade transactions efficiently while mitigating payment risks.

Ecobank works closely with clients in reviewing key aspects of transaction processing, including Settlement, Financing, Risk Mitigation, Credit Enhancement, and applicable Exchange Control Regulations.

Its Trade Products and Solutions include Structured Trade & Commodity Finance (customers benefit from adequate, mitigated credit facilities); Trade Services (customers experience speedy turnaround and error-free processes); Supply Chain Finance (one-stop end to end value chain and supplier financing locally and across regional corridors).

Trade services provided include import/export Letters of Credit; import/export collections; bills analysation (SBLCs, guarantees, bid, performance and other bonds; regional trade payments); Rapid transfer (cross-border remittances); and international payment services.

More than 200 elite bankers and corporate executives from around the world gathered at the closing luncheon of BAFT to honor the best in trade and supply chain finance among the regional and category winners previously announced. It is also revealed, for the first time, the global winners for 2023.

Global Finance’s awards and recognition programs are the trusted standard of excellence for the financial industry. They are backed by a 35-year history of editorial accuracy and integrity. Global Finance’s corporate and financial audience relies on these awards because they are credible, reliable and have stood the test of time. The honor of being a Global Finance award recipient has a long and lasting impact.

Research shows that readership of awards coverage on GFMag.com spikes upon announcement and again when editorial content is published. This audience engagement continues throughout the award cycle for nearly a full year.