A number of wholesale trade finance initiatives have been brought to the fore, aimed at unlocking intra-regional trade to boost economic growth. But emerging technology offers a timely opportunity to anchor the continent’s top-down approach with a nimble, efficient and bottom-up solution.
Technology is widely used to support the internal trade finance processes of African banks, DFIs and alternative lenders. The digital tools that they deploy range from Microsoft’s basic suite of programs to the more sophisticated systems such as Ecobank’s OMNI eFSC (Electronic Financial Supply Chain) software. However, these solutions exist in silos with disjointed usage and application.
Women in Finance 2019 – Balance for Better – International Women’s Day 2019
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Last week, Dubai based TradeAssets announced the launch of a trade finance e-marketplace for banks. The banks, primarily Bangladeshi, are helping to bridge the gap in the secondary market for trade finance banks.
Trade finance due diligence is becoming both more critical – not least due to the heavy sanctions in place for regulatory non-compliance – and more complex.
