Capitalising on the increasing popularity of South African wines among Chinese consumers, Wines of South Africa (Wosa) recently organised a hybrid wine-tasting matchmaking event with both virtual and physical elements.
Standard Bank Group, in partnership with the Industrial and Commercial Bank of China (ICBC), hosted the event where South African wine sellers got to interact virtually with potential Chinese buyers who sampled the pre-shipped wines at a venue in Shenzhen.
According to Philip Myburgh, head of trade and Africa-China business & commercial clients at Standard Bank, strategic partnerships with key players such as ICBC and Wosa are crucial for growing the export potential of the South African wine industry and increasing market share in China.
Wosa’s data shows that total exports in 2020 amounted to R9.1 billion. Of that, only R288 million was attributed to exports to China.