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AfDB Releases Report On Trade Finance in Africa

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Wednesday, 17 December 2014

AfDB Releases Report On Trade Finance in Africa

Trade finance is essential for international trade. This financial intermediation helps firms to manage risks inherent in international transactions, improve their liquidity and enable them to optimally invest to enhance their growth. It is for this reason that, in 2013, the Board of the African Development Bank (AfDB) approved a US $1-billion trade finance (TF) program to support African trade and provide financing to underserved African-based financial institutions and enterprises. Despite its importance, there is a great deal we do not know about the trade finance market in Africa. This includes the size of the market, the variations across sub-regions, the scale of financing gap, the trade finance devoted to intra-African trade, the relative importance of on-balance sheet versus off-balance sheet financing, and constraints faced by banks.The report Trade Finance in Africa seeks to fill the above information gap. It is based on a unique survey of the trade finance activities performed by commercial banks in Africa in 2011 and 2012. Our survey questionnaire was sent to approximately 900 banks on the continent. We received a high response rate, resulting in a dataset that covers 276 banks across 45 countries. All the sub-regions on the continent are represented in the survey.

Source: allafrica.com