Aktif Bank targets a 10 percent share in Turkey's trade with Africa by the end of 2023: Aktif Bank supports the exports at the frontier markets
Muzaffer Suat Utku, Aktif Bank's Executive Vice President in charge of International Banking, one of the panelists in "Turkish-African correspondent bank relations and access to financing" panel held by DEIK (the Foreign Economic Relations Board of Turkey), said "Thanks to our international banking approach, we maintain a different position from other Turkish Banks in challenging geographies. Our target is to increase our 2.5 percent share in the African foreign trade to 10 percent in the coming 3 years."
The Foreign Economic Relations Board of Turkey (DEIK) held a panel, "Turkish-African correspondent bank relations and access to financing", through an on-line platform on December 10. During the panel, Muzaffer Suat Utku, Aktif Bank's Executive Vice President in charge of International Banking, addressed the problems encountered in Africa by the Turkish exporters and provided an update on the activities carried out by Aktif Bank as well as the Bank's plans for the upcoming period.
Mr. Utku: We are collaborating with 290 banks in 48 countries
Highlighting that Aktif Bank differentiated from the its market peers thanks to its approach to Sub-Saharan Africa, Mr. Utku continued as follows; "We recognized the gap in the market years ago and took actions accordingly. We traveled more than 175 thousand kilometers just during the last two years and started our collaboration with 290 banks in 48 countries. Our actions not only provided an added value for the Turkish economy, but also helped us position ourselves much differently. We currently have a 2.5 percent share in our country's trade with Africa and are targeting 10 percent by the end of 2023."
Strong collaboration with Afrexim
Pointing to the lack of dialogue between the Africa and Turkish banks, Mr. Utku said; "We remain committed to expanding our market coverage in the Sub-Saharan Africa. We maintain constant contact with ministries and other governmental bodies in addition to the banks. We are not only much acquainted with the region but are also in close collaboration with the Africa Export Import Bank. We are the first Turkish bank Afrexim has had such a partnership with".
We are establishing a foreign trade platform
Regarding the Bank's ongoing business development, Muzaffer Suat Utku said; "It will be a platform where African importers and Turkish exporters will come together."