AfCFTA: Afreximbank urges companies to take an interest in factoring : Orishas-finance

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AfCFTA: Afreximbank urges companies to take an interest in factoring

11/12/2020

Source : financialafrik.com

Categories: General Information

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AfCFTA: Afreximbank urges companies to take an interest in factoring

Bénédict Oramah, président d'Afreximbank.

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Factoring is a viable alternative source of financing for SMEs, Afreximbank supports in a virtual workshop focused on factoring opportunities in Africa. This bank starts from the fact that "SMEs constitute the largest proportion of the continent's industrial fiber, representing about 80% of companies and employing no less than 70% of the continent's workforce".

Indeed, the African Export-Import Bank (Afreximbank) sees factoring as a viable alternative financing instrument to support small and medium-sized enterprises (SMEs) at a time when traditional commercial bank lending is tightening as trade is about to begin under the African Continental Free Trade Area (AfCFTA).

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