In certain agricultural sectors, such as the cocoa industry, a unique financial collaboration takes center stage: customers providing upfront funding to suppliers. This strategic move is particularly prominent in industries where suppliers source essential resources, like cocoa beans, on behalf of their customers. What makes this collaboration noteworthy is that it involves significant funding without the burden of interest rates.
Consider the cocoa industry in Nigeria where smaller players often turn to their customers for funding. Why? It's simple: this approach is cost-effective and easy to arrange, primarily due to the established trust and longstanding relationships between the suppliers and their customers. Unlike traditional banking processes that involve valuations and extensive paperwork, this direct funding streamlines the financial process, allowing for quicker access to the necessary capita
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Source: LeadershipNGA - 🏆 4. / 77 Read more »