The Afreximbank Group, in partnership with the Bank of Central African States (BEAC) and the Banque Postale du Congo initiated the regional conference for the promotion of factoring and debt financing in Central Africa. The objective is to promote better access to finance for local businesses, the development of the capacities of all relevant stakeholders and the volume of activities related to factoring on the continent.

At a regional conference dedicated to financing small and medium-sized enterprises (SMEs) through factoring, bankers discuss the creation of a network. During two days, the participants in this conclave identified business opportunities with Congolese companies showing a need for financing in the context of factoring, to raise awareness among financial institutions and all stakeholders to the activity, to train factorers in good international practices in this operation.

Cardacturing fills the gap in access to bank financing for SMEs and increases financing opportunities for businesses, while strengthening guarantees for lenders. This financial instrument allows companies to quickly dispose of the money from invoices or receivables without waiting for their due date, said another speaker, Peter Mulroy.