South Africa

Debtor Financing Committee release 2011 statistics

Debtor Financing Statistics for 2011 issued by the Banking Association South Africa show continued slow growth in debtor finance but some surprises in balances of invoices outstanding and sums advanced.

Payment delays resulted in health-care system ‘being held to ransom’

At least six National Health Laboratory Service (NHLS) labs have been shut because of the service s cash crunch.

Gauteng provincial government to pay more promptly

Suppliers and service providers doing business with the government of Gauteng, one of the nine provinces of South Africa, may soon be able to expect more timeous payment of invoices.

Deputy Minister urges SME practioners to engage with SME Review Report

The Deputy Minister of Trade and Industry, Elizabeth Thabethe, has urged more than 500 entrepreneurs, small business financiers, academia, consultants, experts and small business policy-makers to engage with the SME Review Report that was presented at this week s Annual Small Business Summit in Bloemfontein.

Sappi close Ђ360m TRSP deal

Johannesburg-based Sappi Limited have successfully implemented a three year 360 million Trade Receivables Securitisation Programme (TRSP) for its non-South African businesses.

Factoring in South Africa - World Factoring Yearbook 2011

Mark Seland, Head of Debtor Finance at Standard Bank in South Africa, provides an overview of the South African factoring market for the World Factoring Yearbook 2011, covering industry environment, market performance, supply and future trends.

South Africa: expanding the market

David Cory, Head of Debtor Management at Nedbank, talks to Factorscan about the South Africa’s factoring association’s need for a new leader.

Insolvencies are up again

Statistics South Africa releases data on liquidations and insolvencies

HSBC walks away from Nedbank talks

Last week HSBC has walked away from discussions to purchase a 70% stake in South Africa s Nedbank for an estimated US$8bn.

‘It is no longer safe to offer credit ‘

Speaking at the annual Coface South Africa Business Environment conference last week, Coface South Africa CEO Garth de Klerk, urged suppliers to tighten their credit management protocols.