Afreximbank promotes actoring for financial access.
The African Export-Import Bank (Afreximbank) has made the case for factoring as a viable and sustainable solution to address the challenge of access to financing which is hindering the growth of Africa’s small and medium-scale enterprises (SMEs).
Managing Director of the Intra-African Trade Initiative at Afreximbank, Kanayo Awani, said during a factoring promotion conference held in Gaborone that factoring, a form of trade finance provided a solution to address the SME financing gap and would help innovative SMEs to grow and support Africa’s structural transformation and trade development.