The Banking Association Debtor Financing Committee has released South African members’ factoring industry statistics for the year to 31 December 2004 showing members’* clients’ sales of ZAR72.8bn (US$11.8bn), an increase of 29.7% compared to 2003.
In 2004 domestic invoice discounting accounted for almost 89.4% of the total with domestic factoring taking a further 9.8% and the remaining services, export and import factoring and export invoice discounting, contributing 0.8%.
