Innovative financial solutions like factoring and credit insurance offer keys to the growth of small and medium-sized enterprises (SMEs) in Africa and can enhance regional integration, participants at an annual workshop on factoring held on Sal Island in Cape Verde have heard.
The one-day workshop was organized by the African Export-Import Bank (Afreximbank) on 9 November, in collaboration with FCI and the African Capacity Building Foundation (ACBF), as part of the Bank’s Annual Structured Trade Finance Seminar. It looked at the basic tenets of factoring; the role of credit insurance in unlocking access to finance for SMEs and the best ways to promote the development of the two financial instruments to support economic growth and regional integration in Africa.
