“This partnership helps us support our customers by providing a solution that is accessible and that allows them to free up funds for their operational activities,” Iman Hussein the Chase Bank Kenya General Manager SME and Islamic Banking said last week.
The International Finance Corporation, the World Bank private sector lending arm, estimates that Kenya SMEs have an annual credit gap of over $6 billion.
Hussein said under the arrangement Chase Bank will offer it’s new and existing customers a broader range of trade finance products with specific focus on invoice discounting.
These products will support companies by providing them with credit that will help to maintain their business as they wait for their customers to pay.
ATI is Africa’s export credit agency that provides political risk and trade credit risk insurance products with the objective of reducing the business risk and cost of doing business in Africa. Read more. Source | East African Businessweek