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Earlypay acquires Melbourne fintech Timelio in strategic bolt-on acquisition.
08/11/2023
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By all accounts, 2022 was an exceptional year for the receivables finance sector. Today, the industry continues to demonstrate growing resilience to the global economic slowdown as it is keeping up with much higher interest rates, enhanced risk, the costly endeavours of transitioning to a net zero economy and complex technological advances.
07/11/2023
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The Board of Directors of the African Development Bank has approved a financial package for Absa Group Limited comprising a sustainability-linked loan for an amount of ZAR 1.7 billion (US $92.7m); an investment of ZAR 1bn into Absa’s inaugural social bond issuance to be listed on the Johannesburg Stock Exchange; and a trade finance Risk Participation Agreement (RPA) facility for $150 million.
07/11/2023
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"To make use of the momentum, the trade finance assets industry needs to get instruments that investors can understand," Abis Soetan, Fitch Ratings.
07/11/2023
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The International Chamber of Commerce (ICC), along with partners Global Credit Data (GCD) and Boston Consulting Group (BCG), has released its 2023 Trade Register report, reaffirming that credit risk in trade, supply chain and export finance remains stable despite times of ongoing global macroeconomic uncertainty.
06/11/2023
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Zetrix, a leading public blockchain platform that is powering digitisation of cross border trade, has announced the commencement of a pilot project to offer supply chain financing products in conjunction with Chinese banks for international importers and exporters.
06/11/2023
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According to data from NFG, a Polish factor, up to 3/4 of sole proprietorships across the country may be trapped waiting for money. Therefore, interest in factoring is growing among SMEs. The greatest "hunger" for cash remains in the construction industry.
06/11/2023
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Allianz Trade in Asia Pacific has appointed Tricia Koh as Commercial Director for Hong Kong, Taiwan and South Korea (collectively Hong Kong Hub), effective November 1, 2023.
06/11/2023
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The Nordic tech companies Froda and Ageras have entered into a strategic partnership. Froda is one of Sweden’s fastest-growing fintechs and has helped more than 50,000 businesses get access to financing. Ageras is a leading provider of software for banking, accounting, and administration with +300,000 SME customers across Europe, who now will get access to financing through Froda Embedded.
06/11/2023
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HSBC India has launched electronic bank guarantee services for its MSMEs and corporate clients in association with National E-Governance Services Ltd (NeSL), being the first foreing bank in the country to offer this facility.The aim of HSBC is to digitise trade by replacing the paper-based bank guarantee with a more efficient version, the electronic form, including the introduction of e-stamping and e-signing.
03/11/2023
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African Development Bank approves €100m Risk Participation Agreement with Attijariwafa bank to promote African trade.This agreement, the second of its kind with Attijariwafa bank, comes amid toughening regulatory capital and compliance standards on the continent. This has led international banks to reduce their commitment levels and the number of their correspondents in Africa, partly due to perceived high African risk.
03/11/2023
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After a significant setback and a decrease in both funds outstanding and volume that marked the Chilean factoring industry in the pandemic year 2020, end of year figures for 2022 show a second consecutive year of double-digit growth, said Anita Josipovic, Large Corporate & International Business Account Executive, Eurocapital S.A.
03/11/2023
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Commenting on the decision announced yesterday by Bank of England to keep unchanged the UK interest rates, Douglas Grant (pictured), Group CEO of Manx Financial Group PLC (MFG), said:
03/11/2023
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Hercules Site Services (Hercules) has secured a new invoice discounting facility of £15m with IGF Business Credit to fund its continued growth and ongoing working capital needs.According to the company, the three-year new facility replaces an existing facility of £11m from a previous lender.Hercules believes that this increased funding capacity will provide the headroom required to support its working capital needs over the period of the facility and back its continued growth.
02/11/2023
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Capify, the specialist SME financier, is announcing today the launch of a new dedicated £45m loan fund for SMEs. The fund is aimed at helping smaller businesses with the finance they need to navigate the challenges of today and capitalise on the opportunities of tomorrow.
02/11/2023
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