South Africa

South Africa's Industrial Development Corporation IDC) has secured a 60-million credit line from the European Investment Bank (EIB) to finance viable projects by small and medium enterprises in the industrial, resources and services sectors.

Roger Herbert, Executive Secretary of the Debtor Finance Committee at the Banking Association of South Africa, talks to Factorscan about the challenges factors have faced in South Africa, how the association is hoping to overcome these issues and what the industry's expectations are for 2009.

David Cory of Nedbank Corporate Debtor Management outlines the growing significance of debtor finance to South African companies.

The Regent Group, based in Durban, has announced three new appointments.

Asset-based finance (ABF) company Rand Trust, of Cape Town, is to open a branch in Gauteng this month, its first outside the Western Cape.

Credit insurer Coface SA has launched two new divisions to assist companies exporting products and services while collecting debt on their behalf.

The Regent Group have been given associate membership to the Debtor Finance Committee of The South African Banking Association.

David John Cory, Head of Debtor Management, Nedbank Ltd, gives the overview of factoring in South Africa for the forthcoming year.

Business managers will have to be very watchful of their debtors in the months ahead to ensure that payments are received as per terms.