Mwaba: Afreximbank financing Africa SMEs differently
Gwen Mwaba, the Managing Director, Trade Finance and Correspondent Banking at Afreximbank says the bank is looking at financing SMEs differently in Africa in a bid to reduce the high rejection rate of businesses seeking financing. In a chat with CNBC Africa, Mwaba notes that the bank has a dedicated team focused on financing programs for SMEs on the continent.
Wed, 06 Nov 2024 14:12:46 GMT
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AI Generated Summary
- Innovative financing strategies to reduce high rejection rates of SMEs seeking funding
- Introduction of supply chain finance programs to support SME growth
- Collaboration with African banks and stakeholders to boost intra-regional trade
Afreximbank, the African Export-Import Bank, is setting new standards in financing Small and Medium Enterprises (SMEs) across the African continent. Gwen Mwaba, the Managing Director, Trade Finance and Correspondent Banking at Afreximbank, emphasized the bank's commitment to financing SMEs differently to reduce the high rejection rate faced by businesses seeking funding. In a recent interview with CNBC Africa, Mwaba highlighted the bank's innovative approaches and dedicated team focused on SME financing programs to bridge the trade finance gap in Africa. With a remarkable $40 billion balance sheet, Afreximbank continues to support and finance trade activities in Africa, particularly in the context of the African Continental Free Trade Agreement (AfCFTA).
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