The African Export-Import Bank (Afreximbank) has signed a 15 million euros factoring line of credit agreement with the Banque Postale du Congo (BPC) in Cairo. The facility will provide liquidity to BPC for factoring supplier invoices accepted by eligible buyers, as well as for

Speaking at the signing ceremony, Kanayo Awani, Executive Vice President of Afreximbank, in charge of intra-African trade and export development, explained that the double-slice factoring facility would support small and medium-sized enterprises (SMEs) in the Republic of Congo and allow the BPC to expand its cross-border factoring activities

She emphasized that the facility would significantly boost SME financing in Congo, where BPC is currently the only institution offering factoring services. This facility is expected to be renewed several times over the next year, which will make it possible to provide a cumulative financing of 60 million euros to SMEs

Ms. Awani emphasized that the transaction is part of a global strategic partnership between Afreximbank and BPC aimed at promoting factoring in the Republic of Congo and throughout the Central African region. The partnership also aims to improve access to finance for SMEs, which contribute vitally to job creation and economic growth, as well as to improve capacity building and the legal and regulatory framework.

“Factoring has been identified as a key instrument to facilitate the implementation of Afreximbank's current strategy, Impact 2026 — Expanding Frontiers (Impact 2026 — Expanding Frontiers) by providing financing to SMEs that do not meet the criteria for traditional bank loans,” Ms. Awani continued. “This facility will support SMEs and improve their competitiveness by allowing them to trade on open account terms, thus expanding trade borders,” she added.

Mr. Calixte Tabangoli, CEO of BPC, who signed on behalf of his organization, said: “We are honored to partner with Afreximbank once again through this expanded facility. Over the past two years, the Bank's support has enabled us to provide vital working capital to over 100 SMEs in Congo. This new €15 million facility will further strengthen our ability to promote financial inclusion and economic development. We salute the unwavering commitment of Ms. Kanayo Awani and her team, whose leadership continues to demonstrate that factoring is a powerful instrument for the growth of SMEs

The facility builds on a solid and evolving partnership between Afreximbank and BPC, which started in 2018 with an initial facility of 5 million euros. This support was then increased to 10 million euros in 2022. Since then, BPC's factoring volumes have increased from 1.5 million euros in 2018 to 30.5 million euros in

In addition to funding, the partnership includes key capacity building and policy initiatives. In particular, Afreximbank supported the adoption by the Republic of Congo of a model law on factoring in 2021. The Bank also provided technical assistance, including a one-week secondment of three BPC staff members to Afreximbank in June 2024. At the same time, Afreximbank collaborated with BPC to promote awareness and develop the factoring ecosystem across the region

About Afreximbank:

The African Export-Import Bank (Afreximbank) is a pan-African multilateral financial institution dedicated to the financing and promotion of intra and extra-African trade. For 30 years, Afreximbank has been deploying innovative structures to provide financing solutions that facilitate the transformation of the African trade structure and accelerate industrialization and intraregional trade, thereby supporting economic expansion in Africa. A strong supporter of the African Continental Free Trade Area (AfCFTA) Agreement, Afreximbank launched the Pan-African Payment and Settlement System (PAPSS) which was adopted by the African Union (AU) as the payment and settlement platform to support the implementation of the AfCFTA. In collaboration with the AfCFTA Secretariat and the AU, the Bank has set up a US $10 billion Adjustment Fund to help countries participate effectively in the AfCFTA. At the end of December 2024, the Bank's total assets and guarantees were approximately 40.1 billion US dollars and the funds of its shareholders stood at 7.2 billion US dollars. Afreximbank is rated A by GCR International Scale, Baa1 by Moody's, AAA by China Chengxin International Credit Rating Co., Ltd (CCXI), A- by Japan Credit Rating Agency (JCR), and BBB by Fitch. Over the years, Afreximbank has become a group consisting of the Bank, its impact financing subsidiary called the African Export Development Fund (FEDA), and its insurance management subsidiary, AfrexInsure, (the three entities form “the Group”). The Bank has its head office in Cairo, Egypt.