MonetaGo’s Post

▶ NEW VIDEO | Breaking down the growth of factoring and collateral registries in Africa 📊 The African continent is one of the most intriguing regions for the factoring industry in 2024. According to the FCI Annual Review, while Africa only represented a 1.25% share of the global factoring volume in 2023, it experienced a 13.5% increase from the previous year. 🌍 The continent is ready for even more growth, and there are reasons to be optimistic regarding the market. However, active participation and innovative solutions are required to create a robust factoring industry. 📍 At FCI ’s 56th Annual Meeting in Seoul, Trade Finance Global (TFG) spoke with Neil Shonhard, CEO at MonetaGo, and Nassourou AMINOU, Regional Director for Africa at FCI, to learn more about collateral registries and the keys to factoring growth on the African continent. 📺 Watch the video with the link in the comments! #trade #collateral #africa

Our Regional Manager Nassourou AMINOU speaks with Neil Shonhard and Deepesh Patel on factoring in Africa, check the video to learn more #fci #factoring #receivables #finance 

Navigating advanced import payments in South Africa https://lnkd.in/dQ53bRty Jean-Pierre Millard | Specialist | Forex Dealing Desk | Kuda FX |  Advanced Import Payments (AIP) are a crucial strategy for businesses seeking to enhance efficiency in their cross-border operations. In South Africa, where recent regulations have re-shaped the landscape, understanding, and leveraging AIP can yield significant advantages for international trade, integrating South Africa further into the global economy... #APN #payments #forex #AIP #imports #FX #FEC #compliance Jean-Pierre Millard Kuda FX

I'm extremely pleased and excited to announce you that, I've obtained a new certificate: #Foreign_Exchange_Regulations_For_Financial_Institutions from #Ethiopian_Institute_of_Financial_Studies. Thanks to Dashen Bank & National Bank of Ethiopia for the arrangement of this training program. Finally I want to thank #Mr. Befekadu Tefera & #Mrs. Tigist Wondimu for allowing me to attend on this comprehensive program. This Participation program was so #Insightful and #clarified the ff #FX_Regulations. . Foreign Exchange Regimes in Ethiopia . Overview of Current Foreign Exchange Management System 1992 to date . International Reserve Fund & Foreign Exchange Administration . Regulation of Foreign Exchange . Transactions in International Reserve Assets . Mandate of NBE . Fixation of the daily Fx- cash and Transaction Rate(FXD/60/2019) . What is International Trade? . Parties involved in International Trade . Risk in International Trade . Rights of Authorized Commercial Banks . FXD/77/2021 Transparency and Fcy allocation . Fx- Allocation Ratio . FX-sales on demand . Reporting Requirement . Communication or reporting mechanism between NBE and Commercial Banks . Document requirement for Import . Applicable Modes of Payments for Import of goods . Dry Port . Import through Suppliers credit or External loan . Validity of Import application and declaration of goods entry to the country . Import Transit and freight Payment . Export of Goods . Major points in sales Contract . Document required to export goods . Validity of Export application and repatriation of Export proceed . Export Transit and Freight Payment . Flower Export Directives . Repatriation of export proceed . Supply of information and Reporting . Small Export Items . Invisible payments . Retention Accounts . Utilization of Retention Accounts . Diaspora Account and It’s Use . Resident of Ethiopia, Non-resident Ethiopians and Non-resident Ethiopian origin Fcy Saving Account . FCY Saving Account . International Remittance Service(FXD/74/2021) . International Remittance . The operation of Forex Bureau/FXD17/2001 & FXD43/2013 . Foreign currency cash notes payment limit . FX surrender requirements…

CZ closes $90mn borrowing base. CZ (czarnikow) has closed a $90 million syndicated borrowing base facility that will support its East Africa business. The 12-month deal was led by Rabobank, acting as facility and security agent, while Bank ABC, DZ Bank and Natixis participated on the facility. Standard Bank has also joined the lender pool for the first time. The facility is 50% committed and centres around a security portfolio over working capital assets in Kenya, Tanzania and Uganda. Security was created over sugar and PET plastic resin flows in these countries. Pricing on the deal is competitive and reflects the cost of debt on its bilateral facilities, which have now been rolled into this new syndicated deal. Tanya Epshteyn, head of structured and trade finance at CZ said: “This launch is in tune with our drive to optimise the use of CZ’s internal resources through consolidating business with bi-lateral banks with similar risk appetite into a single secured syndicated solution.” CZ CFO Julian Randles said: “The launch of this facility is a continuation of our strategy of deepening and broadening the excellence of our client-led service offering through optimising last mile logistics.” A spokesperson for Rabobank said: “This is an important deal for CZ as this facility will allow the company to grow further in the region. It is also an important deal for Rabobank as CZ East Africa was one of the first clients of the Rabobank Nairobi office ten years ago. We see this new syndicated facility as the confirmation of this longstanding relationship." Standard Bank said: “This is a milestone transaction that provides a solid funding platform from which CZ can further its business footprint in East Africa whilst growing through its strategic partnerships with key customers. As a leading African bank, we are proud to partner with CZ on this journey with a Structured Syndicated Borrowing Base facility, leveraging our structured funding capabilities and on-the-ground expertise." CZ is a supply chain management firm with more than 25 years of on-the-ground experience in East African trade. Read the article here: https://lnkd.in/e_hbmNVz #CZ #supplychain #supplychainsolutions

Ukrgasbank has concluded the 400th #trade #finance #deal since the beginning of the year Ukrgasbank has conducted 400 trade finance transactions for UAH 8.96 billion since the beginning of 2023. The 400th deal was the bid bond for UAH 300,000 issued for the #SME company from Odesa. The total portfolio of active trade finance #transactions of Ukrgasbank as of the end of the first half of 2023 exceeded UAH 14.5 billion. The state-owned Ukrgasbank remains the #leader in trade finance in the #Ukrainian market, and this #leadership is recognized and confirmed by the Bank’s #international #partners. In spring, the Bank received two awards from the EBRD in the nominations "Most Active Issuing Bank in Ukraine" under the EBRD Trade Facilitation Program (#TFP) and "Deal of the Year - #Green Trade". Ukrgasbank also received two awards from Global Trade Review (#GTR), the most influential publishing company in trade finance: “The Best Trade Finance Bank in Eastern Europe" in 2022 and “The Best Import Deal in 2022”. Since russia’s full-scale invasion, the Bank has focused on financing #critical #imports and #exports, which are crucial to support the #economy of Ukraine.

The Deputy Finance Minister said that the ministry had decided to extend the experiment on Islamic financing in Russia. "The pilot [project] is currently designed for two years, but we have already decided for ourselves that we will extend the pilot, and we are already considering the introduction of comprehensive regulation throughout the entire Russian Federation," he said. A two-year experiment in introducing partnership financing started in September 2023. Currently, the experiment is spreading to the territories of Dagestan, Chechnya, Bashkiria and Tatarstan. In the future, the territory of the experiment may be expanded by the Russian government in agreement with the Bank of Russia. Islamic banking means conducting banking activities in accordance with Islamic norms. Payment of interest and derivative interest transactions, transactions with conditions of uncertainty, as well as financing of certain sectors of the economy such as gambling, pork production, alcoholic beverages, tobacco, weapons, ammunition are banned. You cannot finance trade in all above mentioned areas. Common Islamic banking operations are installments, leasing, and equity financing. (Part Two, The End) #business #finance #financialservices

The State Bank of Pakistan (SBP) has announced a significant measure to streamline trade operations by permitting exporters to utilize funds in their Exporters’ Special Foreign Currency Accounts (ESFCAs) for international payments without prior approval. This initiative aims to facilitate trade activities and enhance the ease of doing business in the country. Under the new circular issued by the SBP, exporters are now authorized to retain a designated percentage of their export proceeds in ESFCAs and utilize these funds freely for various overseas payments related to their business operations. Additionally, the SBP has instructed Authorized Dealers (ADs) to support exporters by issuing debit cards against the balances held in ESFCAs, enabling them to access these funds conveniently. However, cash withdrawals in foreign currency from ESFCAs within Pakistan are strictly prohibited. Moreover, exporters are encouraged to utilize these funds for a wide range of purposes, including imports for business needs, capital and financial transactions such as equity investments abroad, and repayment of foreign currency loans, while adhering to relevant regulations and import policies. #sbp #statebank #exporters