FCI and Afreximbank promote the Intra-African Trade & The African Continental Free Trade Area

Friday 8 November 2019

The workshop “Promoting Factoring in Support of Intra-African Trade and the African Continental Free Trade Area”, took place on 7 November 2019 in Durban, South Africa.

The workshop covered the topics of receivables finance and factoring and had comprehensive discussions on solutions for promoting Intra-African trade.

Aysen Çetintas, FCI Education Director presented the World of Factoring and receivables finance, its mechanics, risks and benefits. Ms. Çetintas also highlighted the key success elements in setting up of factoring activities, role of FCI and the advantages of FCI membership.

Spyros Tsolis, FCI Education Officer shared with the audience the Two-Factor International Factoring Mechanism & FCIreverse.

The workshop featured panel discussions on Credit Insurance in Africa, opportunities and challenges faced by the receivables finance industry and stressed on innovating and providing more financing solutions to SME’s.

Some of the testimonials:

The Factoring Workshop was instructive and highlighted all the key aspects that a factoring company needs to know in order to operate. This information was welcome and great especially for new entrants into factoring- Taku Chinhengo, Executive Director, Harare Receivables Exchange, Zimbabwe

Even though I already knew what factoring was all about, the workshop opened my eyes to the huge opportunities that our Group has for financing SMEs. Beyond the financing within the countries in which we operate, factoring also allows us to capture cross-border flows. I realized that it is certainly a powerful tool for sub-regional and regional integration from which Orabank as a banking group can benefit- Lamine Kone, Direction Exécutive, Orabank Group, Togo