Sponsored
  • Challenger Management Joins Hands With DP World To Finance Trade

    According to the latest news, DP World, a leading international logistics company and advanced supply chain solutions provider reported an association between CARGOES Finance by DP World and Challenger Management Limited, to help customers get working capital solutions from the international finance fund.

    CARGOES Finance by DP World is a fintech platform that brings global importers, exporters, and logistic companies to a single platform that requires getting finance from around the world with financial institutions. CARGOES Finance also delivers lenders access to data on cargo movements, empowering them to finance with peace of mind.

    Under the partnership, CARGOES Finance will be delivering digital instruments to Challenger Management to further accelerate paper-heavy processes, KYC (Know Your Customer) and anti-money laundering information on customers, and confidential trade data throughout the supply chain and other risk mitigant highlights on the platform.

    Read more: https://ngulminthang.weebly.com/news/challenger-management-joins-hands-with-dp-world-to-finance-trade

    #ChallengerManagement #DPWorld #FinanceTrade #DigitalTechnology #NgulminthangLhanghal
    Challenger Management Joins Hands With DP World To Finance Trade According to the latest news, DP World, a leading international logistics company and advanced supply chain solutions provider reported an association between CARGOES Finance by DP World and Challenger Management Limited, to help customers get working capital solutions from the international finance fund. CARGOES Finance by DP World is a fintech platform that brings global importers, exporters, and logistic companies to a single platform that requires getting finance from around the world with financial institutions. CARGOES Finance also delivers lenders access to data on cargo movements, empowering them to finance with peace of mind. Under the partnership, CARGOES Finance will be delivering digital instruments to Challenger Management to further accelerate paper-heavy processes, KYC (Know Your Customer) and anti-money laundering information on customers, and confidential trade data throughout the supply chain and other risk mitigant highlights on the platform. Read more: https://ngulminthang.weebly.com/news/challenger-management-joins-hands-with-dp-world-to-finance-trade #ChallengerManagement #DPWorld #FinanceTrade #DigitalTechnology #NgulminthangLhanghal
    NGULMINTHANG.WEEBLY.COM
    Challenger Management Joins Hands With DP World To Finance Trade
    DP World has joined hands with Challenger Management Limited to further enable customers to access working capital solutions from the global trade finance fund.
    0 Comments 0 Shares
  • NBK named Best Trade Finance Bank in Kuwait for 2022

    National Bank of Kuwait (NBK) was named “Best Trade Finance Bank in Kuwait for 2022” in the annual survey of Global Trade Review (GTR), a magazine specializing in global emerging markets and trade, commodity finance and transaction banking.

    GTR selected NBK as one of the leading banks in the Middle East and North Africa (MENA) region in the trade finance sector, based on customer and market-specialized institution surveys conducted around the world.

    The GTR Leaders in Trade awards recognize excellence in the trade, commodity, supply chain and export financing, and well as FinTech markets.

    By receiving this award, NBK demonstrates its leadership in financing mega deals and projects, benefiting from its strong balance sheet, extensive experience, in addition to the exceptional and sustainable relations with its clients both locally and internationally.

    Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/nbk-named-best-trade-finance-bank-in-kuwait-for-2022

    #NBK #GTR #TradeFinancebank #FinTech #exportfinance #supplychainfinance #NgulminthangLhanghal
    NBK named Best Trade Finance Bank in Kuwait for 2022 National Bank of Kuwait (NBK) was named “Best Trade Finance Bank in Kuwait for 2022” in the annual survey of Global Trade Review (GTR), a magazine specializing in global emerging markets and trade, commodity finance and transaction banking. GTR selected NBK as one of the leading banks in the Middle East and North Africa (MENA) region in the trade finance sector, based on customer and market-specialized institution surveys conducted around the world. The GTR Leaders in Trade awards recognize excellence in the trade, commodity, supply chain and export financing, and well as FinTech markets. By receiving this award, NBK demonstrates its leadership in financing mega deals and projects, benefiting from its strong balance sheet, extensive experience, in addition to the exceptional and sustainable relations with its clients both locally and internationally. Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/nbk-named-best-trade-finance-bank-in-kuwait-for-2022 #NBK #GTR #TradeFinancebank #FinTech #exportfinance #supplychainfinance #NgulminthangLhanghal
    NGULMINTHANGLHANGHAL.MYSTRIKINGLY.COM
    NBK named Best Trade Finance Bank in Kuwait for 2022
    In the annual survey of GTR magazine specializing in global emerging markets and trade finance.
    0 Comments 0 Shares
  • IMF appoints Krishna Srinivasan as director of Asia and Pacific Department

    Kristalina Georgieva, managing director of the International Monetary Fund (IMF), on Wednesday announced her intention to appoint Indian national Krishna Srinivasan as director of the Asia and Pacific Department (APD).

    Srinivasan's appointment as APD director will be effective from June 22, 2022. He will succeed Changyong Rhee, whose retirement from the Fund was announced on March 23, 2022.

    Srinivasan has more than 27 years of experience at IMF, starting with the Economist Program in 1994. He is currently a deputy director in APD, where he oversees the department's surveillance work on a number of large and systemically important countries such as China and Korea, and smaller states in the Pacific such as Fiji and Vanuatu. He also oversees APD's work on key ASEAN countries, namely Malaysia and Singapore, as well-advanced economies, including Australia and New Zealand.

    During the global financial crisis, while in the research department, Srinivasan led the Fund's work on the G20 including the preparation of analytical notes for the meetings of the G20 ministers and leaders.

    Read more: https://vk.com/@ngulminthanglhanghal-imf-appoints-krishna-srinivasan-as-director-of-asia

    #InternationalFinance #TradewindFinance #IMF #APD #NgulminthangLhanghal
    IMF appoints Krishna Srinivasan as director of Asia and Pacific Department Kristalina Georgieva, managing director of the International Monetary Fund (IMF), on Wednesday announced her intention to appoint Indian national Krishna Srinivasan as director of the Asia and Pacific Department (APD). Srinivasan's appointment as APD director will be effective from June 22, 2022. He will succeed Changyong Rhee, whose retirement from the Fund was announced on March 23, 2022. Srinivasan has more than 27 years of experience at IMF, starting with the Economist Program in 1994. He is currently a deputy director in APD, where he oversees the department's surveillance work on a number of large and systemically important countries such as China and Korea, and smaller states in the Pacific such as Fiji and Vanuatu. He also oversees APD's work on key ASEAN countries, namely Malaysia and Singapore, as well-advanced economies, including Australia and New Zealand. During the global financial crisis, while in the research department, Srinivasan led the Fund's work on the G20 including the preparation of analytical notes for the meetings of the G20 ministers and leaders. Read more: https://vk.com/@ngulminthanglhanghal-imf-appoints-krishna-srinivasan-as-director-of-asia #InternationalFinance #TradewindFinance #IMF #APD #NgulminthangLhanghal
    VK.COM
    IMF appoints Krishna Srinivasan as director of Asia and Pacific Department
    Kristalina Georgieva, managing director of the International Monetary Fund (IMF), on Wednesday announced her intention to appoint Indian..
    0 Comments 0 Shares
  • Singapore's New Trade Data Sharing Platform Aims to Regulate Fraud

    As per the latest news, a Singapore trade data-sharing platform, supported by banks, commodity houses, and state organizations, has enrolled 70 participants as part of the city-state’s endeavors to support certainty after a series of commodity trade finance frauds in recent years.

    The Singapore Trade Data Exchange (SGTraDex), which was established by bank DBS (DBSM.SI), commodity trader Trafigura and local technology controller, Infocomm Media Development Authority, was introduced on Wednesday, following the strategies put in place last year.

    “We are attempting to replicate what’s taking place in the real world,” said Antoine Cadoux, chief executive of SGTraDex Services. “The agenda is to adopt paperless technology across the end-to-end process.”

    “We suppose that with the value we are capable of demonstrating, we can touch that scale relatively faster,” according to Cadoux, a former consultant.

    Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/singapore-s-new-trade-data-sharing-platform-aims-to-regulate-fraud

    #TradeDataExchange #localtechnology #tradefinance #supplychain #SGTraDexServices #finance #NgulminthangLhanghal
    Singapore's New Trade Data Sharing Platform Aims to Regulate Fraud As per the latest news, a Singapore trade data-sharing platform, supported by banks, commodity houses, and state organizations, has enrolled 70 participants as part of the city-state’s endeavors to support certainty after a series of commodity trade finance frauds in recent years. The Singapore Trade Data Exchange (SGTraDex), which was established by bank DBS (DBSM.SI), commodity trader Trafigura and local technology controller, Infocomm Media Development Authority, was introduced on Wednesday, following the strategies put in place last year. “We are attempting to replicate what’s taking place in the real world,” said Antoine Cadoux, chief executive of SGTraDex Services. “The agenda is to adopt paperless technology across the end-to-end process.” “We suppose that with the value we are capable of demonstrating, we can touch that scale relatively faster,” according to Cadoux, a former consultant. Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/singapore-s-new-trade-data-sharing-platform-aims-to-regulate-fraud #TradeDataExchange #localtechnology #tradefinance #supplychain #SGTraDexServices #finance #NgulminthangLhanghal
    NGULMINTHANGLHANGH.WIXSITE.COM
    Singapore's New Trade Data Sharing Platform Aims to Regulate Fraud
    The Singapore Trade Data Exchange (SGTraDex) was introduced recently after the strategy was announced last year. Read the full news.
    0 Comments 0 Shares
  • Citi eyes Africa supply chain finance boost with support from British International Investment

    Citi has signed a risk-sharing deal with British International Investment (BII), the UK’s development finance institution, as part of plans to increase its supply chain finance volumes in Africa.

    The US$100mn master guarantee facility will see BII – which was formerly known as the CDC Group before a rebrand this year – act as a guarantor for supply chain finance facilities provided by Citi to SME suppliers and underserved segments, with the bank saying that it will be able to increase its annual SCF volumes in the continent by up to US$400mn as a result.

    BII and Citi have agreed to set impact criteria to ensure that flexible capital is being directed toward underserved groups, women-owned businesses and enterprises targeted by the South African government’s Broad-based Black Economic Empowerment programme, which encourages businesses to integrate black people in the workplace, support black businesses, and give back to black communities affected by land repossession.

    Read more: https://ngulminthanglhanghal.wordpress.com/2022/05/20/citi-eyes-africa-supply-chain-finance-boost-with-support-from-british-international-investment/

    #NgulminthangLhanghal #finance #BritishInternational #Investment #CDC Group #ChrisCox #Citi #SMEs #SupplyChainFinance #TradeFinanceGap
    Citi eyes Africa supply chain finance boost with support from British International Investment Citi has signed a risk-sharing deal with British International Investment (BII), the UK’s development finance institution, as part of plans to increase its supply chain finance volumes in Africa. The US$100mn master guarantee facility will see BII – which was formerly known as the CDC Group before a rebrand this year – act as a guarantor for supply chain finance facilities provided by Citi to SME suppliers and underserved segments, with the bank saying that it will be able to increase its annual SCF volumes in the continent by up to US$400mn as a result. BII and Citi have agreed to set impact criteria to ensure that flexible capital is being directed toward underserved groups, women-owned businesses and enterprises targeted by the South African government’s Broad-based Black Economic Empowerment programme, which encourages businesses to integrate black people in the workplace, support black businesses, and give back to black communities affected by land repossession. Read more: https://ngulminthanglhanghal.wordpress.com/2022/05/20/citi-eyes-africa-supply-chain-finance-boost-with-support-from-british-international-investment/ #NgulminthangLhanghal #finance #BritishInternational #Investment #CDC Group #ChrisCox #Citi #SMEs #SupplyChainFinance #TradeFinanceGap
    NGULMINTHANGLHANGHAL.WORDPRESS.COM
    Citi eyes Africa supply chain finance boost with support from British International Investment
    Citi has signed a risk-sharing deal with British International Investment (BII), the UK’s development finance institution, as part of plans to increase its supply chain finance volumes in Africa.
    0 Comments 0 Shares
  • Singapore authorities say commodity finance “stable” amid growing market concerns

    A Singapore senior minister says the city-state’s financial regulator does not plan to inject liquidity into the commodity finance market, insisting access to finance from the banking sector remains robust.

    Tharman Shanmugaratnam, a senior government minister in charge of the Monetary Authority of Singapore (MAS), said this week that demand for working capital has increased among commodity traders due to higher margin requirements.

    As a result, traders “have had to use derivatives more widely to hedge their exposures against price volatility”, he said in response to a parliamentary question on risks to the financial sector. “Firms which do not manage their risks well may run into difficulty in servicing their loans.”

    In addition, virus containment measures introduced in China are expected to disrupt production and supply chains, causing “spillover effects” on the city-state’s trading activity, Shanmugaratnam said.

    The total exposure to commodity finance transactions among Singapore’s banks totalled S$109bn (US$79bn) at the end of last year, equivalent to around 9% of their overall credit exposure, he added.

    Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/singapore-authorities-say-commodity-finance-stable-amid-growing-market-concerns

    #Agritrade #AllianzTrade #CommodityFinance #FinancialStabilityBoard(FSB) #HinLeong #KlaasKnot #MonetaryAuthorityofSingapore(MAS) #TharmanShanmugaratnam #Ngulminthang #NgulminthangLhanghal
    Singapore authorities say commodity finance “stable” amid growing market concerns A Singapore senior minister says the city-state’s financial regulator does not plan to inject liquidity into the commodity finance market, insisting access to finance from the banking sector remains robust. Tharman Shanmugaratnam, a senior government minister in charge of the Monetary Authority of Singapore (MAS), said this week that demand for working capital has increased among commodity traders due to higher margin requirements. As a result, traders “have had to use derivatives more widely to hedge their exposures against price volatility”, he said in response to a parliamentary question on risks to the financial sector. “Firms which do not manage their risks well may run into difficulty in servicing their loans.” In addition, virus containment measures introduced in China are expected to disrupt production and supply chains, causing “spillover effects” on the city-state’s trading activity, Shanmugaratnam said. The total exposure to commodity finance transactions among Singapore’s banks totalled S$109bn (US$79bn) at the end of last year, equivalent to around 9% of their overall credit exposure, he added. Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/singapore-authorities-say-commodity-finance-stable-amid-growing-market-concerns #Agritrade #AllianzTrade #CommodityFinance #FinancialStabilityBoard(FSB) #HinLeong #KlaasKnot #MonetaryAuthorityofSingapore(MAS) #TharmanShanmugaratnam #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANGLHANGH.WIXSITE.COM
    Singapore authorities say commodity finance “stable” amid growing market concerns
    A Singapore senior minister says the city-state’s financial regulator does not plan to inject liquidity into the commodity finance market, insisting access to finance from the banking sector remains robust. Tharman Shanmugaratnam, a senior government minister in charge of the Monetary Authority of Singapore (MAS), said this week that demand for working capital has increased.
    0 Comments 0 Shares
  • Trade finance startup Vayana Network raises Rs 114 cr to increase trade credit to micro, small businesses

    Credit and Finance for MSMEs: Trade financing startup Vayana Network on Wednesday announced it has raised Rs 114 crore as part of its Series C funding from International Finance Corporation (IFC) and PayU. The company said it plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready. Vayana Network has already raised Rs 283 crore in its existing round from new and existing investors, including Marshall Wace, March Capital, Chiratae Ventures, CDC group, Jungle Ventures, and well-established family offices in India and abroad.

    “While we are set to do more than $10 billion (Rs 76,500 crore) of trade financing in India alone this financial year, we are focusing on creating tools and infrastructure to help small businesses manage their working capital efficiently and sourcing trade finance at the most affordable rates. We will continue to build on our leadership role in public trade infrastructure including GST, e-Invoice and e-Way Bill and embedding credit for every business in the supply chain,” said Ram Iyer, Founder and CEO, Vayana Network.

    The company will also launch Vayana ITFS (International Trade Finance Services) platform at GIFT City, Gujarat in the current financial year. The platform will enable exporters and importers to access international trade finance facilities at competitive rates, added Iyer.

    Read more: https://vk.com/@ngulminthanglhanghal-trade-finance-startup-vayana-network-raises-rs-114-cr-to-inc

    #supplychainfinance #ITFS #tradefinance #tradecredit #IFSCA #Ngulminthang
    Trade finance startup Vayana Network raises Rs 114 cr to increase trade credit to micro, small businesses Credit and Finance for MSMEs: Trade financing startup Vayana Network on Wednesday announced it has raised Rs 114 crore as part of its Series C funding from International Finance Corporation (IFC) and PayU. The company said it plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready. Vayana Network has already raised Rs 283 crore in its existing round from new and existing investors, including Marshall Wace, March Capital, Chiratae Ventures, CDC group, Jungle Ventures, and well-established family offices in India and abroad. “While we are set to do more than $10 billion (Rs 76,500 crore) of trade financing in India alone this financial year, we are focusing on creating tools and infrastructure to help small businesses manage their working capital efficiently and sourcing trade finance at the most affordable rates. We will continue to build on our leadership role in public trade infrastructure including GST, e-Invoice and e-Way Bill and embedding credit for every business in the supply chain,” said Ram Iyer, Founder and CEO, Vayana Network. The company will also launch Vayana ITFS (International Trade Finance Services) platform at GIFT City, Gujarat in the current financial year. The platform will enable exporters and importers to access international trade finance facilities at competitive rates, added Iyer. Read more: https://vk.com/@ngulminthanglhanghal-trade-finance-startup-vayana-network-raises-rs-114-cr-to-inc #supplychainfinance #ITFS #tradefinance #tradecredit #IFSCA #Ngulminthang
    0 Comments 0 Shares
  • Surecomp Debuts Duplicate Financing Fraud Prevention

    Surecomp is launching a new offering that uses advanced cryptographic technology to allow financial institutions (FIs) to lessen the risk of duplicate financing fraud, according to a Tuesday (April 12) press release.

    The new product features an invoice comparison process that helps to identify whether there is any suspicious activity detected against a specific invoice and ensure that no confidential information leaves the bank, the release says.

    “We’ve seen a dramatic rise in duplicate trade financing fraud, with billions of dollars being lost and many banks reviewing their appetite for risk which has further impacted the trade finance gap,” Surecomp SVP of Strategy and Business Development Enno-Burghard Weitzel said in the press release.

    “We believe that an effective fraud prevention solution is a must have for banks to sustain their trade finance business and therefore we’re offering this to all banks free of charge as an industry utility,” he said.

    Surecomp’s new tool looks for unrecognizable hashed crypto document fingerprints using a global validation database and allows any financier to check and compare trade documents without having to disclose any customer information.

    It also enhances the visibility of invoice status and promotes industry collaboration through a shared open API-based repository, according to the press release.

    Read more: https://ngulminthang.weebly.com/news/surecomp-debuts-duplicate-financing-fraud-prevention

    #SurecompDebuts #duplicatefinancingfraud #financialinstitutions #tradefinancingfraud #Ngulminthang #NgulminthangLhanghal
    Surecomp Debuts Duplicate Financing Fraud Prevention Surecomp is launching a new offering that uses advanced cryptographic technology to allow financial institutions (FIs) to lessen the risk of duplicate financing fraud, according to a Tuesday (April 12) press release. The new product features an invoice comparison process that helps to identify whether there is any suspicious activity detected against a specific invoice and ensure that no confidential information leaves the bank, the release says. “We’ve seen a dramatic rise in duplicate trade financing fraud, with billions of dollars being lost and many banks reviewing their appetite for risk which has further impacted the trade finance gap,” Surecomp SVP of Strategy and Business Development Enno-Burghard Weitzel said in the press release. “We believe that an effective fraud prevention solution is a must have for banks to sustain their trade finance business and therefore we’re offering this to all banks free of charge as an industry utility,” he said. Surecomp’s new tool looks for unrecognizable hashed crypto document fingerprints using a global validation database and allows any financier to check and compare trade documents without having to disclose any customer information. It also enhances the visibility of invoice status and promotes industry collaboration through a shared open API-based repository, according to the press release. Read more: https://ngulminthang.weebly.com/news/surecomp-debuts-duplicate-financing-fraud-prevention #SurecompDebuts #duplicatefinancingfraud #financialinstitutions #tradefinancingfraud #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANG.WEEBLY.COM
    Surecomp Debuts Duplicate Financing Fraud Prevention
    Surecomp is launching a new offering that uses advanced cryptographic technology to help financial institutions to lessen the risk of duplicate financing fraud.
    0 Comments 0 Shares
  • Wema Bank selects Union Systems for their International Trade Finance Automation

    Union Systems Limited, Africa’s leading trade finance company, partners with Wema Bank Plc to automate its trade finance operations. The bank selected Union Systems’ Kachasi trade finance software over all other international trade finance software solutions due to its ability to address both the traditional international trade finance processes and the peculiar Nigerian trade finance operations. The selection of Kachasi demonstrates Union Systems‘ leadership, experience, and excellence in the provision of trade finance software solutions.

    Wema Bank, the pioneer of Africa’s first fully digital bank, is no stranger to being at the forefront of introducing innovative digital solutions to its customers. Through this collaboration, the bank will join the league of banks around the world that are using technology to change the way trade financing works. This trade finance automation project will significantly reduce trade finance processing turnaround time, improve operational efficiency, and unlock new revenue streams for the bank. It will also improve the bank’s ability to respond quickly to regulatory policies and updates.

    Kachasi is the first indigenous trade finance software application built to automate the entire lifecycle of international and domestic trade finance operations. Union Systems brings to this partnership over 20 years of successful development and implementation of trade finance solutions across Africa. This is a significant milestone for the company and proves its expertise in the design and development of trade finance software products.

    Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/wema-bank-selects-union-systems-for-their-international-trade-finance-automation

    #TradeFinance #WemaBank #UnionSystems #InternationalTradeFinanceAutomation #Ngulminthang #NgulminthangLhanghal
    Wema Bank selects Union Systems for their International Trade Finance Automation Union Systems Limited, Africa’s leading trade finance company, partners with Wema Bank Plc to automate its trade finance operations. The bank selected Union Systems’ Kachasi trade finance software over all other international trade finance software solutions due to its ability to address both the traditional international trade finance processes and the peculiar Nigerian trade finance operations. The selection of Kachasi demonstrates Union Systems‘ leadership, experience, and excellence in the provision of trade finance software solutions. Wema Bank, the pioneer of Africa’s first fully digital bank, is no stranger to being at the forefront of introducing innovative digital solutions to its customers. Through this collaboration, the bank will join the league of banks around the world that are using technology to change the way trade financing works. This trade finance automation project will significantly reduce trade finance processing turnaround time, improve operational efficiency, and unlock new revenue streams for the bank. It will also improve the bank’s ability to respond quickly to regulatory policies and updates. Kachasi is the first indigenous trade finance software application built to automate the entire lifecycle of international and domestic trade finance operations. Union Systems brings to this partnership over 20 years of successful development and implementation of trade finance solutions across Africa. This is a significant milestone for the company and proves its expertise in the design and development of trade finance software products. Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/wema-bank-selects-union-systems-for-their-international-trade-finance-automation #TradeFinance #WemaBank #UnionSystems #InternationalTradeFinanceAutomation #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANGLHANGHAL.MYSTRIKINGLY.COM
    Wema Bank selects Union Systems for their International Trade Finance Automation
    Union Systems Limited, Africa's leading trade finance company, partners with Wema Bank Plc to automate its trade finance operations.
    0 Comments 0 Shares
  • Africa: Trade finance and the efforts to boost intra-African trade

    In brief

    Over the last ten years, Africa’s trade growth has been one of the worst among the major global regions, mostly due to falling commodity prices, competition, inadequate foreign exchange liquidity, regulatory challenges and access to trade finance. Although trade finance remains a popular activity among banks, the participation rates have decreased. Despite this persistently large trade finance gap, trade remains a key driver of Africa’s social and economic development. As a result, development finance institutions such as the African Development Bank and the African Export-Import Bank have sought to provide solutions to boost intra-Africa trade.

    In Depth

    ​As stated by the President of the African Development Bank (AfDB), Akinwumi A. Adesina, "trade finance is an important instrument for influencing Africa's long-term economic development and structural transformation". According to a report by the AfDB and the African Export-Import Bank (Afrexim), Trade Finance in Africa: Trends Over the Past Decade and Opportunities Ahead, the region was one of the most integrated with the rest of the world in 2011. However, in the last decade, Africa’s trade growth has been one of the worst among the major regions of the world. This is as a result of a number of factors including falling commodity prices, competition, inadequate foreign exchange liquidity, regulatory challenges and access to trade finance, as banks have gradually been scaling back activities from riskier markets.

    The study showed that although trade finance remains a popular activity among banks in Africa, the participation rates continue to decrease, falling by 16% between 2013 and 2019. As a result, the trade finance gap in Africa averaged USD 91 billion for the period between 2011 to 2019. Furthermore, the trade uncertainty in Africa was exacerbated by the impact of the COVID-19 pandemic, which resulted in a twin supply-demand shock across the continent. Supply was affected by mass production shutdowns and supply chain blockages and demand for products from Africa decreased globally.

    Read more: https://ngulminthang.weebly.com/news/africa-trade-finance-and-the-efforts-to-boost-intra-african-trade

    Follow: https://ngulminthangl.tumblr.com/

    #AfCFTA #tradefinancegap #AfricanDevelopmentBank #Tradefinance #NgulminthangLhanghal #Ngulminthang
    Africa: Trade finance and the efforts to boost intra-African trade In brief Over the last ten years, Africa’s trade growth has been one of the worst among the major global regions, mostly due to falling commodity prices, competition, inadequate foreign exchange liquidity, regulatory challenges and access to trade finance. Although trade finance remains a popular activity among banks, the participation rates have decreased. Despite this persistently large trade finance gap, trade remains a key driver of Africa’s social and economic development. As a result, development finance institutions such as the African Development Bank and the African Export-Import Bank have sought to provide solutions to boost intra-Africa trade. In Depth ​As stated by the President of the African Development Bank (AfDB), Akinwumi A. Adesina, "trade finance is an important instrument for influencing Africa's long-term economic development and structural transformation". According to a report by the AfDB and the African Export-Import Bank (Afrexim), Trade Finance in Africa: Trends Over the Past Decade and Opportunities Ahead, the region was one of the most integrated with the rest of the world in 2011. However, in the last decade, Africa’s trade growth has been one of the worst among the major regions of the world. This is as a result of a number of factors including falling commodity prices, competition, inadequate foreign exchange liquidity, regulatory challenges and access to trade finance, as banks have gradually been scaling back activities from riskier markets. The study showed that although trade finance remains a popular activity among banks in Africa, the participation rates continue to decrease, falling by 16% between 2013 and 2019. As a result, the trade finance gap in Africa averaged USD 91 billion for the period between 2011 to 2019. Furthermore, the trade uncertainty in Africa was exacerbated by the impact of the COVID-19 pandemic, which resulted in a twin supply-demand shock across the continent. Supply was affected by mass production shutdowns and supply chain blockages and demand for products from Africa decreased globally. Read more: https://ngulminthang.weebly.com/news/africa-trade-finance-and-the-efforts-to-boost-intra-african-trade Follow: https://ngulminthangl.tumblr.com/ #AfCFTA #tradefinancegap #AfricanDevelopmentBank #Tradefinance #NgulminthangLhanghal #Ngulminthang
    NGULMINTHANG.WEEBLY.COM
    Africa: Trade finance and the efforts to boost intra-African trade
    Over the last ten years, Africa’s trade growth has been one of the worst among the major global regions, mostly due to falling commodity.
    0 Comments 0 Shares
More Results
Sponsored

Instant Money Transfers - Open Free Account

Mobile Money made easy, all currencies

Sponsored