Breeze and Finverty have sealed partnership deal to accelerate providing African SMEs with access to trade finance. The partnership’s goal will implem
Breeze and Finverty have sealed partnership deal to accelerate providing African SMEs with access to trade finance. The partnership’s goal will implemented via Finverty’s Emerging Leader’s Programme (ELP).
SMEs are the target audience to them being majority of trade participants in Africa who lack sufficient support and resources to compete effectively in the global market, with larger companies having the upper hand and a larger share of the limited support and resources.
ELP program
ELP program aims to identify, nurture, and grow the future generation of local trade finance leaders in emerging markets. Breeze was selected and onboarded into the ELP, and as part of the program, Finverity provides its market-leading Supply Chain Finance Platform, introductions to debt capital providers in their network, shares its legal infrastructure templates, and assists in the creation of best practice processes and procedures.
Breeze which is a startup that powers trade by providing financial services to supply chain businesses in Africa, aims to reduce Africa’s $120 billion annual trade finance deficit by distributing capital to small and medium-sized businesses. Only 28% of the total trade finance portfolio of African banks benefits SMEs, while the vast majority of trade financing goes to larger corporations.
On the other hand Finverity which is Europe’s fastest-growing SCF company and a leader in supply chain finance and factoring solutions for emerging markets. Their mission is to close the $3.5 trillion global trade finance gap, and they have decided to collaborate with local industry experts.
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