African Export Import Bank (Afreximbank ) and Woodhall Capital have partnered to educate stakeholders on the benefits and applications of supply chain finance and factoring.
The one-day event, which convened Corporates, Financial Institutions and Sovereigns, served as a platform to explore the opportunities and challenges within the Payables Finance Industry in Africa’s biggest economy.
The workshop was attended by industry stakeholders, among them the key guests; Commissioner for Trade and Investment in Lagos, Mrs. Folasade Ambrose-Medebem and the representative of the governor of the Central Bank of Nigeria (CBN), Mr. Abayomi Arogundade, deputy director, Department of Other Financial Institutions, CBN.
The workshop was followed by a joint launch of the innovative Payables Finance product, branded as ‘Afreximbank Tradelink’ in partnership with Sterling Bank.
The introduction of Payables Finance is the next stage on Afreximbank’s roadmap to promote Supply Chain Financing in Africa. The Bank currently provides US Dollar and Euro financing across Africa and plans similar partnerships in other African countries while incorporating local currencies.
The workshop provided a platform for corporates and banks to gain insights into the benefits and applications of supply chain finance and factoring. Through informative sessions and interactive discussions, participants had the opportunity to explore practical strategies for leveraging these financial solutions to optimise working capital management and drive business growth.
Arogundade highlighted the significance of the workshop, saying, “the ongoing collaboration, particularly in establishing regulatory frameworks for factoring. Both institutions are committed to exploring regulatory measures to support the development of supply chain finance.”
Founder of Woodhall Capital, Mojisola Hunponu-Wusu asserted to the Central Bank of Nigeria, the unwavering support of financial institutions towards the receivables financial industry, underscoring its growing visibility.
The chief executive officer at Woodhall Capital, Adegboyega Festus said, “we are thrilled by the overwhelming response to the workshop. The presence of guests from Lagos State and the Central Bank of Nigeria, such as Mrs. Folasade Ambrose-Medebem, further highlights the importance of collaboration in advancing the payables finance industry in Nigeria.”
She believes that “by equipping businesses and financial institutions with the knowledge and tools they need to navigate the complexities of supply chain finance and factoring, we can contribute to the sustainable development and growth of the African economy.”
Participants engaged in insightful discussions, sharing expertise and strategies to navigate the evolving landscape of Supply Chain Finance. From identifying innovative financing solutions to addressing regulatory considerations, the workshop provided valuable insights for attendees to enhance their operations and seize new opportunities in the marketplace.
Woodhall Capital is a leading financial advisory firm that has raised over $5 billion from various funding sources across the globe. The funds have been raised to support local financial institutions, multinationals and conglomerates operating in various economic sectors in Nigeria and across Africa.
