Afreximbank and Sterling Bank Partner to Launch Innovative Payables Finance Solution in Nigeria.

29 Apr 2024

Afreximbank and Sterling Bank have collaborated to offer a ground-breaking Payables Finance solution in Nigeria. This unique approach provides suppliers with finance by allowing them to obtain early payments on authorized invoices. Businesses may use Afreximbank's Africa Trade Gateway platform to connect with partners throughout the continent, expedite trade procedures, and accept payments in local currencies. This is a key first step in Afreximbank's goal to expand Payables Finance across Africa, making it simpler for firms to get finance and drive development, especially for SMEs, who frequently struggle to secure bank loans at reasonable rates. The financing cost is determined by the buyer's credit rating, making Payables Finance an especially appealing alternative. This launch marks a significant step towards Afreximbank's mission of transformation.


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