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London first for finance | Growth predicted in East Africa | SME trade resources

 
London remains the most attractive financial centre
 
According to the 21st edition of the Z/Yen Global Financial Centres Index (GFCI 21), which ranks cities on attributes including business environment, competitiveness and political stability, London remains the most attractive financial centre post-Brexit.
 
Although London established itself ahead of New York, European locations like Frankfurt and Dublin are gaining momentum on the league table. On a global scale the Middle East and Africa also did well with improved ratings.
 
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Payments traffic in East Africa show signs of growth trajectory
 
Figures released by global payments network Swift revealed that traffic on their network in East Africa over the past year has grown by 20.1 per cent. East Africa outperformed the total growth for Swift globally, which only amounted to 8.2 per cent.
 
Swift international payment network is one of the largest financial messaging systems in the world and their research has shown a close correlation between the network’s traffic and economic activity.
 
A rise in traffic volumes is therefore a good indication of a long-term growth trajectory for East Africa; “East Africa holds some of Africa’s fastest growing economies” said Denis Kruger, the company’s head of Sub-Sahara Africa.
 
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Top resources for SMEs who want to trade overseas
 
SMEs and experts share their international trade resources to help small businesses towards international trade success. The list includes top resources for finding and researching international payment services, time zone converters and networking events.

 
At the top of the list is the Department for International Trade (DIT), which provides a wide array of advice on trading, as well as trade missions and meet the buyer events.
 
Darren Spurling, MD of luxury shoe brand Terry de Havilland, spoke on the two trade missions he has been on: “It was invaluable, as we understood what was expected from a luxury brand in Japan, from sizing to quality.”
 
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Thursday 14 September 2017

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