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Only a Quarter of Africa’s Trade Finance Needs are Being Met

Absa, recent winners at Global Finance’s 2020 World’s Best Corporate/Institutional Digital Banks Awards in Africa, is transforming trade on the continent. The group is broadening access to trade finance by digitising its trade finance offering, ensuring increased trade opportunities that boost economic growth in Africa. The group launched its online trade finance portal, Trade Management Online, in 2019, and is busy with other automation initiatives focused on operations and services to further reduce costs, improve efficiency and provide a consistent client experience across all regions. The portal recently won Global Finance’s Best Online Portal in the World’s Best Corporate/Institutional Digital Banks in Africa 2020 round one award. The bank also won the regional award for Best Trade Finance Services. Trade Management Online offers the bank’s corporate and business banking clients a comprehensive range of functionalities. Clients can initiate, receive and manage the full life cycle of trade finance products and services through the channel.

SOURCE: BUSINESS DAY LIVE