{"id":12065,"date":"2017-04-05T15:09:12","date_gmt":"2017-04-05T14:09:12","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=12065"},"modified":"2017-04-05T15:09:12","modified_gmt":"2017-04-05T14:09:12","slug":"factoring-can-bridge-financing-gap-says-afreximbank","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/","title":{"rendered":"Factoring can bridge financing gap, says Afreximbank \u00a0"},"content":{"rendered":"

African Export-Import Bank (Afreximbank) has reiterated the importance of factoring services in bridging the assessed gap in financing among small and medium-sized enterprises (SMEs) in Africa.<\/p>\n

While admitting that the business model was scripted to address the challenges the SMEs face in accessing funding for business activities, the bank noted that it is also important to develop the model across Africa. In factoring, an exporter or supplier sells his accounts receivable or invoices at a discount to a third party, called a factor, in exchange for immediate cash with which to finance continued business.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The Managing Director of the Intra-African Trade Initiative of Afreximbank, Kanayo Awani, at a two-day factoring promotion seminar in Douala, Cameroon, said the effectiveness and potential of factoring services to support SMEs became even higher during periods of financial distress. She said that because of its unique features, factoring was well-suited for facilitating financial inclusion of SMEs.<\/p>\n","protected":false},"excerpt":{"rendered":"

African Export-Import Bank (Afreximbank) has reiterated the importance of factoring services in bridging the assessed gap in financing among small and medium-sized enterprises (SMEs) in Africa. While admitting that the business model was scripted to address the challenges the SMEs face in accessing funding for business activities, the bank noted that it is also important …<\/p>\n","protected":false},"author":11,"featured_media":12066,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[907],"coauthors":[2392,2393],"class_list":["post-12065","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-afreximbank"],"yoast_head":"\nFactoring can bridge financing gap, says Afreximbank \u00a0 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Factoring can bridge financing gap, says Afreximbank \u00a0 - National Wire\" \/>\n<meta property=\"og:description\" content=\"African Export-Import Bank (Afreximbank) has reiterated the importance of factoring services in bridging the assessed gap in financing among small and medium-sized enterprises (SMEs) in Africa. While admitting that the business model was scripted to address the challenges the SMEs face in accessing funding for business activities, the bank noted that it is also important …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-05T14:09:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/04\/download-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"217\" \/>\n\t<meta property=\"og:image:height\" content=\"232\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/04\/download-1.png\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/04\/download-1.png\",\"width\":217,\"height\":232},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/\",\"name\":\"Factoring can bridge financing gap, says Afreximbank \u00a0 - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/#primaryimage\"},\"datePublished\":\"2017-04-05T14:09:12+00:00\",\"dateModified\":\"2017-04-05T14:09:12+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Factoring can bridge financing gap, says Afreximbank \u00a0\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Factoring can bridge financing gap, says Afreximbank \u00a0 - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/factoring-can-bridge-financing-gap-says-afreximbank\/","og_locale":"en_US","og_type":"article","og_title":"Factoring can bridge financing gap, says Afreximbank \u00a0 - National Wire","og_description":"African Export-Import Bank (Afreximbank) has reiterated the importance of factoring services in bridging the assessed gap in financing among small and medium-sized enterprises (SMEs) in Africa. 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