Africa’s corporates look to expand financing options

Uneven progress towards financial market reform across the continent continues to pose a challenge for ambitious African corporates.

Corporate treasurers in Africa have often faced greater challenges than those elsewhere in getting access to capital. There are several initiatives in place to tackle this, such as Standard Bank’s agreement to offer trade finance solutions jointly with DP World Trade Finance in a May 2023 deal that will see the firms co-lend and share risk on deals made via its platform across Africa.

African corporates are also keen to expand their roster of banking partners, according to Manish Kohli, global head of global payments solutions at HSBC, who says the bank is seeing many clients from North Africa expanding beyond the region.