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Following the successful growth of its teams in the UK and US, Allianz Trade, the global leader in trade credit insurance, announced its expansion of excess of loss teams in Germany, Asia Pacific, Spain, and Brazil. Allianz Trade will provide support to these markets by investing in dedicated teams that are physically present in these regions.
19/04/2023
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African Export-Import Bank (Afreximbank) has signed a landmark agreement with Banque Postale du Congo (BPC) to provide the Congolese bank with €10m factoring facility to support SMEs in the Republic of Congo and the CEMAC region.
19/04/2023
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Fresh data from Time Finance has uncovered the true impact of late payments for SMEs with 75 per cent of UK businesses worrying about cashflow as a direct result of overdue invoices from their customers.
19/04/2023
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GST Network (GSTN) India said the government has decided to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with aggregate annual turnover greater than or equal to INR 1bn (US$12m). The time limit imposed by GSTN is 7 days. This limit relates only to invoices and not to credit or debit notes. The change is expected to increase the goods and services tax (GST) collection.
18/04/2023
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Contour, the leading digital trade finance network, announced today that Pan-African bank, Absa Corporate and Investment Bank are intent on joining the network and are in the process of finalising negotiations.Absa CIB clients will be able to adopt a fully digital end-to-end Letter of Credit (LC) settlement process. Presenting digital LC documents can be done from an average of five to 10 days to under 24 hours. Currently, many of the continent’s trade transactions are manual and paper-based, which slows down trade growth by creating another layer of complexity and costs.
18/04/2023
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Citi, in collaboration with Vodafone Group Plc (Vodafone), announces the addition of environmental criteria to Vodafone’s supply chain finance (SCF) programme. Eligible suppliers to Vodafone will now be able to access preferential SCF rates from Citi by disclosing environmental data and demonstrating improvements to their performance.
18/04/2023
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Almost seven years after the UK’s Brexit vote, the recently signed Windsor Framework attempts to solve one of the most gnarly post-Brexit problems. The Framework, signed with the EU, aims to remove Brexit checks on goods entering Northern Ireland from the rest of the United Kingdom. These checks created barriers to trade within the UK internal market.
18/04/2023
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The invoice finance and ABL advisory firm, Loxbear Advisory, has strengthened its team with the appointment of Director, Tansy Cunningham (pictured).
18/04/2023
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The European Investment Bank (EIB) and illimity Bank S.p.A. (illimity) have concluded an agreement worth €200m aimed at supporting the working capital and liquidity needs of small and medium-sized enterprises (SMEs), with specific emphasis being given to sustainable investments and businesses operating in cohesion regions.
17/04/2023
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The Amsterdam-based invoice finance fintech Factris has received a €50m funding line from global investment business Aegon Asset Management (Aegon AM) in April 2023. This additional funding will help Factris develop further its activity and expand to Estonia in the second quarter of 2023. Factris is already present in existing EU markets which includes Netherlands, Latvia, Lithuania, Poland and Belgium.
17/04/2023
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The European Bank for Reconstruction and Development (EBRD) and Citi are jointly supporting the rollout of a sustainable supply chain finance programme for Finnish technology and services company Metso Outotec and its suppliers in Türkiye, the majority of which are small and medium-sized enterprises (SMEs). The EBRD’s funded risk participation of up to €25m in Metso Outotec’s supply chain finance programme in Türkiye – administered by Citi – will support eligible suppliers based in the country, providing them with access to affordable working capital finance.
17/04/2023
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The Board of Directors of the African Development Bank (ADB) Group has approved a trade finance transaction guarantee facility to Banque Commerciale Du Burundi (Bancobu). Leveraging Bancobu’s strategic footprint in the East African nation, this instrument will provide support to small and medium sized enterprises (SMEs) and local corporates, to facilitate their import and export trade finance requirements.
17/04/2023
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Pakistan’s leading microfinance institution Mobilink Microfinance Bank Ltd. (MMBL) and the global blockchain-based invoice verification platform MateSol, have signed a partnership to offer local SMEs better access to invoice financing.
14/04/2023
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Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized businesses in the United States announces the completion of a US$2m accounts receivable factoring facility with a specialised healthcare solutions company.
14/04/2023
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Continuation from Part 2
14/04/2023
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