An annual Afrexilbank factoring workshop was held in Abidjan in Côte d'Ivoire. During exchanges, Mrs Kanayo Awani Executive Vice President for Intra-African Trade and Development exports (IAED) at Afreximbank and FCI member of the executive committee of the aa announced that the volume of factoring in Africa more than doubled from 2017 to 2024.

The volume of factoring in Africa has more than doubled in recent years. It went from 21.6 billion euros in 2017 to 50 billion euros in 2024, and nearly 200 factoring companies operate now on the continent.

AfreximBank emphasized the crucial importance of factoring and financing the supply chain (SCF ) to reduce the financing gap for small and medium-sized businesses African (SMEs) and build resilient value chains across mainland. For Kanayo Awani , even though factoring volumes in Africa have more than doubled in recent years years, going from 21.6 billion euros in 2017 to 50 billion euros in 2024, and with nearly 200 factoring companies now operating on the continent, current activity still falls well short of the potential of transformation of Africa. The annual factoring workshop is part of the long-standing commitment framework from Afreximbank and by FCI aiming to raise awareness and strengthen technical expertise in factoring and of supply chain financing, key elements essential to implementation of the African Continental Free Trade Area (AfCFTA).