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Collaboration Between Afreximbank and Woodhall Capital in Supply Chain Finance

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A one-day workshop on Supply Chain Finance and Factoring in Nigeria was recently organized through the partnership of Afreximbank and Woodhall Capital. The workshop aimed to explore the dynamics of supply chain finance and factoring in the region.

An innovative Payables Finance product, named ‘Afreximbank Tradelink,’ was launched in collaboration with Sterling Bank as part of Afreximbank’s efforts to promote supply chain financing in Africa.

The introduction of Payables Finance signifies a significant milestone in Afreximbank’s strategy to bolster trade and financing activities within and beyond Nigeria, incorporating local currencies into its operations.

The workshop saw participation from corporates, financial institutions, and government representatives, including the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, who was represented by Mr. Abayomi Arogundade. Lagos State Commissioner for Trade and Investment, Mrs. Folasade Ambrose-Medebem, was also present alongside other key stakeholders.

The event provided a platform to discuss the opportunities and challenges in the payables finance sector within Nigeria, offering insights to companies and banks on the benefits and applications of supply chain finance and factoring.

Dr. Cardoso emphasized the importance of establishing regulatory frameworks for factoring, highlighting the workshop’s role in this aspect.

Woodhall Capital’s founder, Mrs. Mojisola Hunponu-Wusu, echoed the CBN’s commitment to supporting supply chain finance, noting its positive impact on the sector’s growth.

In reflecting on the workshop, CEO of Woodhall Capital, Adegboyega Festus, shared, “The collaboration witnessed at the workshop, especially with esteemed guests from Lagos State and the Central Bank of Nigeria, underlines the imperative of working together to advance the payables finance industry in Nigeria. Equipping businesses and financial institutions with the necessary knowledge and tools for supply chain finance and factoring is crucial for the sustainable growth of the African economy.”

Woodhall Capital, a reputable financial advisory firm, has successfully raised substantial funding to support local financial institutions, multinationals, and conglomerates across various sectors in Nigeria and Africa, totaling over $5 billion.

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