Intra-Africa Trade and Supply Chains

Trade and supply volume is projected to grow into 2028 far beyond previously known levels, but are banks ready for tomorrow?

Respondents to a Finastra survey in Africa said that 85% of banks had developed their trade finance systems in-house. Banks simply haven’t been able to invest in sophisticated digital trading platforms in the past. However, to break past the plateau of manual processes and disjointed systems, banks must find a way to ease cost pressures and grow their trade finance businesses sustainably as trade volumes look set to increase.

To support businesses after the African Continental Free Trade Agreement (AfCFTA), banks need a new approach to total working capital finance. The answer must come from standardised, best-practice working capital. Trade and supply chain finance will talk to standard APIs, removing the complexity and cost of connecting to multi-bank platforms and other marketplaces. Total working capital finance will enable banks to pivot to new products quickly, adapting their offering and creating a richer marketplace for trade finance.

Ultimately for banks in Africa; total working capital finance offers the opportunity to go beyond and win market share.

In this exclusive virtual roundtable discussion, we invite Banks to join Finastra and Connect Global Group to explore the current and future state of Trade in Africa.