Afreximbank and Woodhall Capital have joined forces to host a one-day workshop on Supply Chain Finance and Factoring in Nigeria. The workshop culminated in the launch of an innovative Payables Finance product named ‘Afreximbank Tradelink’, developed in collaboration with Sterling Bank.
In a statement released on Wednesday, the partners announced that the introduction of Payables Finance marks the next step in Afreximbank’s efforts to promote supply chain financing across Africa. As a key player in intra-African and extra-African trade, Afreximbank currently offers US dollar and euro financing across the continent and plans to expand similar partnerships in other African countries, incorporating local currencies.
The workshop drew participation from corporates, financial institutions, and sovereigns, including representatives from the Central Bank of Nigeria and the Lagos State Government. Dr. Olayemi Cardoso, represented by Mr. Abayomi Arogundade, emphasized the workshop’s role in establishing regulatory frameworks for factoring.
Mrs. Mojisola Hunponu-Wusu, founder of Woodhall Capital, commended the Central Bank of Nigeria’s support for supply chain finance, noting its instrumental role in driving growth in the industry.
Adegboyega Festus, CEO of Woodhall Capital, expressed satisfaction with the workshop’s outcomes, highlighting the importance of collaboration in advancing payables finance in Nigeria. He emphasized the significance of equipping businesses and financial institutions with the necessary knowledge and tools to navigate the complexities of supply chain finance and factoring, contributing to the sustainable development and growth of the African economy.
Woodhall Capital, a leading financial advisory firm, has raised over $5 billion from various funding sources globally to support local financial institutions, multinationals, and conglomerates operating across Nigeria and Africa. The partnership between Afreximbank and Woodhall Capital signifies a concerted effort to drive innovation and progress in supply chain finance, ultimately benefiting businesses and fostering economic growth in Nigeria and beyond.
