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On the sidelines of the recently concluded 2024 Islamic Development Bank (IsDB) Group Annual Meetings and Golden Jubilee Celebrations, African Export-Import Bank (Afreximbank or “the Bank”) concluded arrangements for a facility of US$250m with the International Islamic Trade Finance Corporation (ITFC) and US$100m with the Islamic Corporation for Development of the Private Sector (ICD) in support of trade and projects in Africa.
16/05/2024
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Lendscape, the market-leading provider of commercial finance technology, today announced the launch of Lendscape CONNECT, a revolutionary solution designed to widen access to invoice finance by removing the traditional barriers involved for lenders and their clients.
16/05/2024
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Research from independent SME funder Bibby Financial Services (BFS) finds that women business leaders are facing gender inequality in commercial lending, which is hampering the growth ambitions of many SMEs.
16/05/2024
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According to the latest figures, the European factoring industry experienced continuous growth in 2023, but at a slower rate compared to previous years. The total factoring turnover for European countries reached €2,44bn, with a year-on-year growth rate of 2.1 per cent.
15/05/2024
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Surecomp is pleased to announce a partnership with MineHub Technologies, a leading provider of digital supply chain solutions for the commodity markets. This collaboration will see the MineHub platform embedded into Surecomp’s innovative and award-winning RIVO™ solution, to revolutionise digital trade finance specifically for the commodities sector.
15/05/2024
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An apparel company found itself in need of importing merchandise from China ahead of a substantial seasonal demand. With the looming Chinese New Year, they encountered both financial and time-related pressures. To expedite the process, a factoring company recommended Gateway Trade Funding as a solution.
15/05/2024
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eCapital Corp. (eCapital), a leading tech-enabled finance provider specialising in tailored solutions for businesses across North America and the United Kingdom, funded an US$18m asset-based lending (ABL) facility for a leading commercial linen services company. This transaction not only demonstrates eCapital’s commitment to supporting mid-market businesses but also highlights the value of its industry expertise in providing timely financial support to a business at a crucial turning point.
15/05/2024
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FRP has announced the acquisition of the commercial finance and risk management specialist Hilton-Baird Group, as the company continues to expand its support for clients nationally.Southampton-headquartered Hilton-Baird provides commercial finance and credit insurance brokerage, outsourced risk and receivables audit, as well as credit management and commercial debt collection services to a national client base.
15/05/2024
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London-based specialist lender Simply Asset Finance has reached a significant milestone, posting a record annual revenue of £52.3m for the fiscal year 2023, marking a remarkable 37 per cent increase from the previous year.
14/05/2024
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Italian export credit agency SACE has inaugurated a Singapore office to facilitate Italian companies in capitalising on burgeoning trade and investment prospects throughout Southeast Asia. The new establishment will oversee more than US$8bn worth of upcoming projects in the Southeast Asian region.
14/05/2024
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Lenvi, one of the leading lending software and solutions provider, has announced 19 per cent revenue growth in its first year of operations.The 12 month growth was driven by securing 25 new customers, and covering £90bn in assets.
14/05/2024
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Global credit insurer Coface has launched EasyLiner, a trade credit insurance product for SMEs in New Zealand, aiming to address the sector's needs, representing 97 per cent of the country's economy. David Meys, Coface's commercial director, highlighted the impact of bad debts on SMEs, totaling about NZ$2bn annually. Despite growing awareness of buyer default risks, SMEs still need credit terms to stay competitive.
14/05/2024
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Investment firm Avenue Capital Group has concluded fundraising for the Avenue Europe Special Situations Fund V (Avenue Europe Fund), amassing over US$1bn in commitments. The fund, along with separately managed accounts, has garnered support from a diverse investor base comprising public and corporate pension plans, sovereign wealth funds, asset managers, and family offices.
13/05/2024
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Grant Thornton expects to earn £46m in fees for managing the administration of Greensill Capital, as reported by the Financial Times. This makes it one of the costliest UK insolvency processes in recent times. The accounting firm projects an additional £8.5m in fees by March 2025, bringing the total to £45.6m over four years. The complexity of unwinding Greensill Capital underscores the substantial fees involved.
13/05/2024
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Standard Chartered announced the appointment of three new additions to its Transaction Banking global leadership team – Mahesh Kini as Global Head of Cash Management, Mark Troutman as Global Head of Transaction Banking Corporate Sales, Dhiraj Rajan Bajaj as Global Head of Transaction Banking Financial Institutions Sales.
13/05/2024
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