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Digitalisation in African trade finance is entering a critical new phase

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SPONSORED | Technology will transform the way the continent conducts business, writes Bohani Hlungwane of Absa_CIB.

30 March 2023 - 08:42Absa CIB is looking to identify technology solutions that will broaden its clients' access to new global import and export markets. Picture: Absa CIB

In short, we have never seen a more focused debate about digitalisation and automation, and its interaction with fintech solution providers in the trade finance space. We believe this is going to be transformative for the way the continent conducts business. Taking this a step further, Africa is becoming increasingly important in the global economy, from both an import and export perspective.

On one hand, you have an annual trade finance gap of about $100bn each year. On the other, the banking sector is busy rolling out Basel IV regulations.

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