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Kwa-Zulu Natal, South Africa
Despite the Covid-19 crisis, factoring volumes continued to grow in Africa in 2020. It increased from EUR 24 billion in 2019 to over EUR 25 billion in 2020, representing 2,8% growth. At the end of 2020, a significant enthusiasm for the launch of factoring activities by banking groups, local banks, and independent companies emerged and this emphasised the digitisation of processes and innovation.
The ongoing collaboration between FCI and Afreximbank in promoting the Factoring across Africa has started to show success. Building on this partnership, we will be hosting the Boosting African trade through Factoring an informative and insightful gathering taking place at the Durban ICC in South Africa, alongside the Intra-African Trade Fair 2021.