Crown Agents Bank (CAB) has partnered with Aditya Birla Global Trading, formerly Swiss Singapore, to launch bespoke solutions that support their expansion goals.
Leveraging expertise and long-standing relationships across the African continent, Crown Agents Bank collaborates with ABGT to structure tailored solutions for their commodity business in Africa.
Supporting business expansion in Africa
ABGT is the USD 6 billion international commodity trading arm of the Aditya Birla Group, a global conglomerate. ABGT has now become CAB’s first multinational corporate client, supporting their growth plans across Africa’s regulatory and liquidity ecosystem. Leveraging ABGT team's structuring and solutioning capabilities, together with CAB’s long-standing presence in Africa, the bank tailors its services to its clients’ needs and demands, supporting ABGT in the process.
AGBT notes positive feelings towards the partnership with CAB. The bank’s understanding of African markets and client demands enables the delivery of impactful products tailored to the everyday needs of users. The company aims to drive developments across Africa and navigate some of the world’s most dynamic and complex markets.
This initiative follows CAB’s partnership with Surecomp, aimed at providing cross-border payments in over 100 currencies across more than 700 currency pairs. Leveraging Scurecomp’s Trade Finance-as-a-Service, the bank simplifies its entire trade finance process, including origination, issuance, and settlement. Trade finance is a key feature of the bank’s offering as it is needed across high-growth markets in Africa and the Middle East, where international trade is closely connected with FX and payments flows.
Additionally, the bank obtained an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria (CBN). This will advance its mission to develop relationships with central banks and regulators in emerging markets and strengthen its position in Nigeria. CAB is set to be able to provide more solutions to a wider range of clients, especially to non-bank financial institutions. Under the IMTO licence, Crown Agents Bank will scale its payment capabilities, including diaspora remittances and other international inflows.
