The African Export-Import Bank has urged the use of open account terms for trade in Africa in order to facilitate the realization of the intra-African trade aspirations of the African Continental Free Trade Area and to enhance competitiveness.
She noted that access to finance remained a daunting challenge for most African companies, particularly small and medium-sized enterprises and that, according to Global Banking and Finance Review magazine, SMEs face refusal for 53 per cent of their trade finance applications. Afreximbank was continuing to create awareness, demonstrate the relevance, and highlight the potency of factoring in Africa as part of its commitment to supporting the operationalization of the AfCFTA, she said.
Aysen Cetintas, Education Director of FCI, gave a rundown of the organisation’s work in support of factoring across the world, explaining that FCI was active in many countries.
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You guys have stopped being sabotua