Bilateral trade between China and Africa reached an estimated $295.6 billion in 2024

The trade relationship between Africa and China has evolved into a dynamic and diversified partnership, offering a critical runway for growth, particularly for African SMEs. 

With bilateral trade reaching an estimated $295.6 billion in 2024 and China’s recent announcement of zero-tariff access for all African countries, the opportunity to diversify markets and build sustainable businesses has never been greater. On Standard Bank’s China Unlocked feature, Sithembile Dlamini, the head of Africa China Banking, details the current state and immense potential of this relationship.

Listen to the interview below:

“Undoubtedly, the China-Africa trade relationship has evolved significantly over the past two decades,” Dlamini stated. While it was once driven primarily by China's demand for raw materials, the landscape has shifted. “Today we see a more balanced, dynamic and diversified… partnership. African businesses are not only exporting commodities but also manufactured products, processed goods and value-added goods.” This maturation is further amplified by Chinese companies seeking investment and supply chain diversification in Africa.

Navigating such a massive and dynamic market, however, presents challenges. “China is very dynamic, and it's a massive market. As you can imagine, there are about 1.4 billion people and 23 provinces that you would be navigating as an exporter,” Dlamini explains.

To simplify this process, Standard Bank developed the Africa China Trade Solutions (ACTS). “It's a combination of financial solutions, trade facilitation, and market access support all under one umbrella,” she said. The solution is designed to help exporters connect with reliable buyers, manage logistics, and mitigate risk, providing end-to-end support.

This support is crucial in a global economy marked by uncertainty. Dlamini sees the current climate as a catalyst for market diversification. “With this zero-tariff announcement that China did… for 53 countries in Africa, that creates equal market access opportunities for African businesses,” she notes.

She highlights a key differentiator from more complex reciprocal trade models. This policy opens a direct channel for African products, creating a win-win situation and solidifying a shared future for African and Chinese prosperity. For over a decade, Standard Bank has been building the commercial bridges to help entrepreneurs walk through this open door and unlock their next big opportunity.

China Unlocked is brought to you by Standard Bank Business and Commercial Unlocked China for your business, find partners, cut costs and grow. China is a major food importer, which means South Africa can position itself as a reliable supplier while developing regional agroprocessing value chains.