The stabilisation of the economy and decreasing interest rates in 2000 and 2001 led to growth in the factoring industry, which continued to expand despite the market turmoil of 2002. In the absence of a regulatory framework, there has been little official information on the sector.
The National Association of Factoring, Associacao Nacional das Sociedades de Fomento Mercantil Factoring (Anfac), estimates that the industry enjoyed transaction volume of R50bn in 2003, up from R30bn a year earlier. Anfac reports that the sector experienced such strong growth because of the way it rebounded from the depressed levels of activity in the latter part of 2002.
