cat/factoring
PwC and Startupbootcamp are stationed at the heart of the FinTech ecosystem in India. Startupbootcamp scouts for and supports promising, early-stage startups in the country, while PwC advises a wide-range of corporate and institutional clients on leading FinTech issues. For its first program in India, Startupbootcamp FinTech analysed more than 1000 startups from across the world.
Factoring services can bridge the gap in the financing of small and medium-sized enterprises (SMEs) in Africa by addressing the challenges the SMEs face in accessing funding for business activities.
This is according to Kanayo Awani, Managing Director of the Intra-African Trade Initiative of the African Export-Import Bank (Afreximbank).
Awani was speaking during a high level business discussion held in Douala, Cameroon.
The experience in funding suppliers using technology, makes of eFactor network the leading provider in offering an open multi-bank platform that allows PRIME ENTERPRISES (buyers) to offer a credit line to its suppliers, allowing them to accede to immediate funding.
Date: March 2-4 2015
Location: Miami Beach, Florida
To me, this is the best way to get a boost from the WEF...I'm not at Davos, but I can blog through our kind friends at Davos...see the link attached!
matt
Please see the link for the official announcement from the Turkish government. 2015 should be a very exciting one for SME finance and SME development. Turkey has been a leader in the SME agenda of the G20 since its inception, and has served as co-chair of the SME finance subgroup since SME finance became a priority for the G20 in 2009. As a technical partner to the G20's Global Partnership for Financial Inclusion, the SME Finance Forum looks forwarding to supporting the Turkish agenda during this coming year.
Our readers may also see that Turkey will be forming a new global body to represent SMEs' own interests during 2015. Unfortunately the working name for this entity is "SME Forum", which risks some brand confusion, for obvious reasons!. We'll also be working with our G20 colleagues on this, hopefully with some resolution that helps build and grow this very worthwhile complementary institution, while avoiding too many cases of mistaken identity.
matt
Factors Chain International (FCI), a multinational organisation based in Europe and America, has opened a branch in Ghana to do business with small and medium-scale enterprises (SMEs).
Under the initiative, FCI will give soft loans to SMEs to assist their businesses. It will also give financial assistance to banks and other corporate bodies who may need their support.
Running a small business can be challenging, especially when it comes to managing your cash flow. Regardless of how well your business is doing, balancing incoming capital and ongoing expenses isn’t always easy. If you ever tried getting a loan you already know how tedious and lengthy the process is (and with banks, there's only a 10% chance you'll get approved anyway).
Factoring is one of the best ways for SMEs to get immediate liquidity, better cash flows, increase sales and reduce administrative costs. In 2005, the MIF supported Credifactor a pioneering institution in factoring that promotes greater access to financing for small Nicaraguan businesses.
This research paper discusses factoring which is a type of supplier financing in which firms sell their creditworthy accounts receivable at a discount and receive immediate cash.
