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Collaboration between Afreximbank and Woodhall Capital on Supply Chain Finance

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Afreximbank and Woodhall Capital have partnered to conduct a one-day workshop focused on Supply Chain Finance and Factoring within Nigeria.

The workshop also marked the unveiling of an innovative Payables Finance product known as ‘Afreximbank Tradelink’, developed in collaboration with Sterling Bank.

In a joint statement released by the partners, the introduction of Payables Finance represents the next phase of Afreximbank’s strategy to enhance supply chain financing across Africa.

Afreximbank, a proponent of intra-African and extra-African trade, currently offers financing in US dollars and euros throughout the continent and intends to forge similar alliances in other African nations while incorporating local currencies.

The workshop was attended by corporate entities, financial institutions, and government representatives, including the Deputy Director of the Other Financial Institutions, Supervision Department, Mr Abayomi Arogundade, representing the Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, as well as Lagos State Commissioner for Trade and Investment, Mrs Folasade Ambrose-Medebem, among others.

The workshop provided a platform to discuss the opportunities and challenges in the payables finance sector within Africa’s largest economy, allowing corporations and banks to gain insights into the advantages and applications of supply chain finance and factoring.

Cardoso emphasized the importance of the workshop in establishing regulatory frameworks for factoring.

The founder of Woodhall Capital, Mrs Mojisola Hunponu-Wusu, echoed the CBN’s viewpoint, underscoring the consistent support of financial institutions towards supply chain finance, which has spurred its noticeable expansion.

“We are delighted by the positive response to the workshop. The presence of esteemed guests from Lagos State and the Central Bank of Nigeria, such as Mrs Folasade Ambrose-Medebem, further underscores the significance of collaboration in advancing the payables finance industry in Nigeria,” stated Adegboyega Festus, CEO at Woodhall Capital.

Woodhall Capital, a prominent financial advisory firm, has mobilized over $5 billion from diverse funding channels worldwide to bolster local financial institutions, multinational corporations, and conglomerates across various economic sectors in Nigeria and Africa as a whole.

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