FF News | Fintech Finance’s Post

++ African Export-Import Bank (Afreximbank) and Sterling Bank Launch ‘Payables Finance’ in #Nigeria ++ African Export-Import Bank (Afreximbank) has partnered with Sterling Bank to introduce the innovative supply chain finance product ‘Payables Finance’, in Nigeria. This product, branded as ‘Afreximbank Tradelink,’ is one of Afreximbank’s digital offerings under the umbrella of the Africa Trade Gateway (ATG). ATG provides African corporates and commercial banks with relevant digital tools to access market information, connect with buyers and sellers across the continent for efficient marketing and procurement, facilitate Know Your Customer (KYC) processes, and promote trade payments between African countries in local currencies. "Afreximbank identified supply chain finance as a solution for improving access to trade finance in Africa and embarked on a journey to increase penetration through financial intervention and capacity building. The Bank’s Factoring Working Group has done extremely well to provide lines of credit to support factoring and has actively promoted factoring across the continent in collaboration with other institutions.” He added that the introduction of Payables Finance is the next step on the Bank’s roadmap for supply chain finance across Africa. African businesses now have the opportunity to harness the potential of this product, which has been widely adopted globally, at an accelerated pace by learning from the experiences of other regions and using the latest technologies which have been developed." - Haytham ElMaayergi, Executive Vice President, Afreximbank Global Trade Bank "The launch in Nigeria is a first step in Afreximbank’s plans to introduce Payables Finance across Africa in partnership with leading African financial institutions. The product, which will deploy world class technology and a collaborative delivery model and will contribute towards achievement of the Bank’s strategic objective of reducing the trade finance gap in Africa, particularly for the Small and Medium Enterprises (SMEs) segment." - Gwen Mwaba, Director & Global Head Trade Finance, Afreximbank "Sterling Bank is committed to meeting the trade finance needs of Nigerian corporates and their suppliers and we are proud to introduce this much-needed product in partnership with Afreximbank for the benefit of Nigerian businesses." - Ammishaddai Chukwuka Onuaguluchi, CDFP, Ecosystem Banking Head, Sterling Bank #techafricanews #africa #nigeria #fintech #banking #finance #smes #tradefinancial #gap #objectives #innovation #growth

ECAP Finance offers premier financial solutions tailored for you. Sub-Saharan Africa can be a complex and challenging environment to do business. We work with our clients to identify and harness the continent's opportunities. ECAP Finance with support from its UK affiliated and international consulting partners assists its clients to derisk their investments, while enabling them to have the confidence to fully leverage viable commercial opportunities. Following the rise of US interest rates, that has led to increased scarcity of US dollars in Africa, coupled with the ongoing conflicts in parts of the world, many African financial institutions and entrepreneurs have found themselves facing a severe dollar liquidity problem. Traditional sources of dollar supply such as trade flows or FDI are not sufficient to meet bank client needs, as governments and central banks prioritise and allocate scarce dollars to key strategic items, such as food, fuel and even US dollar denominated debt before other commercial interests. The Corporate Funding Solution We are happy to present a funding option/ solution to banks alongside their corporate clients, that are looking for short-term (360days) US dollar liquidity (rollable), with tranches available from US$20Mn to US$200Mn. • Our financiers target are solid bank credits who are looking to continue supporting their customers with hard currency liquidity during these difficult times. • The target cohort are African based banks alongside their corporate clients with relatively strong balance sheets, that support significant international trade or commercial businesses, who require short term US dollar funding to support their business activities. These banks would be looking for alternative sources of US dollars that will not impact their existing sources nor their balance sheet. Get in Touch +260 977 834 864 | 977 285 880 #ECAPFinance #Reliablycontributingtotheglobalfinancialsector

Just a few years ago, people with money were not allowed to open a bank account with most banks in Nigeria because their money was below the limit for account opening. Fast forward to today, due to the impact of the fintechs and the influence of digital finance, it became evidence that we can't survive that way. with 92% of all printed naira outside the banking system, there is not only a gap but a problem. everyone that can read this post, has access to digital finance, but any one of them that lives in Nigeria, depends on cash for daily living, because; how can Mama in the market where we buy everything our family needs accept our card or bank transfer when she cannot even read or write? the poorer an African, the more likely they are illiterate and the higher the chances they'll be self-employed (micro-merchants). I love the incredible and well-extended works by Brett Matthews and how he embraces cash as part of the solutions to make the best use of what is available (people's way of life) without complicating things or expecting miracles is his recommendation. https://lnkd.in/dGtSw9G8

What will it take to grow and scale embedded finance in Africa? To scale embedded finance in Africa, key challenges such as reliability, trust, affordability, and security must be addressed. Despite growth driven by mobile penetration and digital economies, expanding these services requires businesses and providers to offer reliable, tailored solutions. Trust between digital services and consumers, especially in a region where physical banks dominate, remains a barrier. Collaboration between banks, fintechs, and regulatory bodies is essential. Solutions must be secure, cost-effective, and scalable to realize embedded finance’s potential in transforming commerce and driving financial inclusion across Africa. https://okt.to/hZPUvV

Yet another impetus for Canada to implement an open finance framework as the Bank for International Settlements – BIS builds on the mometum to connect open finance infrastructures on a global basis through Project Aperta for data portability across borders with enhancing trade finance for SMEs as the initial use case to be explored #openfinance #openbanking #bankinginnovation #SMEfinance #dataportability #APIeconomy

What will it take to grow and scale embedded finance in Africa? Embedded finance is reshaping payments in Africa, but scaling it won’t be easy. Businesses need reliable and secure solutions that match Africa’s unique needs, like regional currencies and payment preferences. Trust is also a hurdle—people still rely on traditional banks, so digital services must build credibility. And affordability is crucial; SMEs can’t afford costly tech solutions. For embedded finance to thrive, all players—banks, fintechs, and regulators—must collaborate to create scalable, trustworthy, and affordable solutions that work for everyone. https://okt.to/v1A0cJ

BoN tackles cross-border payment delays and high fees: The Bank of Namibia (BoN) is taking decisive steps to control high cross-border payment costs and improve transaction speeds, aiming to enhance Namibia’s regional and international trade competitiveness. Through recent regulatory measures, BoN is capping fees and mandating faster processing times to streamline cross-border payments and support businesses and individuals engaging in cross-border transactions. Kazembire […] The post BoN tackles cross-border payment delays and high fees first appeared on The Brief | Namibia's Leading Business & Financial News.

Send money to Ghana from Thailand with ease using RemitAnalyst! 🌍 Compare top money transfer services to find the best exchange rates and lowest fees. Whether you're sending money for family, business, or personal needs, enjoy fast, secure, and cost-effective transactions. Avoid hidden charges and delays—make smarter transfers today and save more on every transaction! Learn more: https://lnkd.in/gkg6Wupe #MoneyTransfer #ExchangeRates #SendMoney #Thailand

🏦 The Finance Act in Tanzania brings about crucial amendments to various laws, particularly impacting the #Banking sector in the country. These changes underscore the government's commitment to bolstering the regulatory framework and improving financial governance. The revisions will have implications for banks, financial institutions, businesses, and individuals involved in banking and finance operations throughout #Tanzania. For detailed insights into the modifications to banking laws, check out our latest update by Banking & Regulatory Partner Tenda Msinjili: https://bit.ly/3TFL9wy

Vietnam Embedded Finance Business Report 2024: Revenues will Increase from $426.3 Million in 2024 to Reach $2.73 Billion by 2029 – 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments #IndustryFinance