Manila, Philippines – UnaCash Supply Chain Financing expects a rapid increase in use of supply chain finance among Philippine micro, small, and medium enterprises , forecasting that this set of solutions will cover about 15 percent of the cost of the entire volume of goods and services produced by the sector by 2024.
Considering that the country’s gross domestic product is about US$394 billion , and MSME accounts for about 40% of this indicator, SCF schemes are ready to take on about 13% of the annual MSME production, with a level of 15% as a very realistic benchmark for SCF companies for the next year, given the high demand for the service and the expected rapid growth in its supply in the local market.
UnaCash, an app with a bespoke array of financing solutions for the underbanked, recognizes the potential of the MSME sector in the Philippines, which comprises at least 99.51 percent of the country’s market. Through one of its services, UnaCash Supply Chain Financing, a revolving credit line and bridged financing facility readily addresses the gap between supplier and the market’s demands.
, while a national gross domestic product forecast of 6-7 percent shows that the local market has a potential of leading economic growth in Asia-Pacific, due to the pent-up demand caused by the COVID-19 restrictions. This also involves the high degree of involvement on import-export relations, and the promise of bringing in a powerful digital transformation of the national economy of US$ 100 billion by 2030 .
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