DP World and Nedbank Partner to Enhance Trade Finance Across Sub-Saharan Africa

Post by: Omar Nasser

Photo : Dubai government media office

DP World Trade Finance and Nedbank Corporate and Investment Bank (Nedbank CIB) have announced a strategic partnership aimed at tackling significant working capital challenges faced by businesses across Sub-Saharan Africa. This collaboration is set to enhance financial accessibility and boost trade efficiency throughout the region.

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The partnership includes a supply chain finance program designed to support DP World’s suppliers by offering early payment options on approved receivables. This initiative, combining Nedbank CIB’s financial expertise with DP World’s logistics network, seeks to alleviate working capital constraints and improve liquidity for suppliers. Additionally, a risk-sharing agreement has been established to expand the availability of trade finance, broadening credit access and facilitating smoother financial transactions.

This move addresses the persistent challenges businesses face in accessing trade finance solutions and inadequate credit data, which hinder their participation in global trade opportunities. DP World Trade Finance was created to bridge this gap by connecting businesses directly with financial institutions and providing trade finance facilities from its own balance sheet.

Mohammed Akoojee, CEO & Managing Director for Sub-Saharan Africa at DP World, emphasized the importance of the partnership: “Our collaboration with Nedbank represents a major advancement in tackling trade finance issues that have impeded the growth potential of businesses in Sub-Saharan Africa. By merging our logistics capabilities with innovative financial solutions, we are not only supporting our suppliers but also promoting a more transparent and efficient trade ecosystem. This partnership reaffirms our dedication to transforming trade and fostering sustainable economic growth in the region.”

Anél Bosman, Group Managing Executive at Nedbank CIB, echoed this sentiment: “Our alliance with DP World Trade Finance underscores Nedbank’s commitment to driving sustainable growth and aiding economic recovery in Sub-Saharan Africa. Combining our structured finance expertise with DP World’s extensive logistics network allows us to address the region’s trade finance challenges effectively. This partnership enhances trade flow, empowers businesses to navigate economic difficulties, and unlocks new growth opportunities.”

A notable initiative under this partnership is the Virtual Farmer program, managed by Specialized Agri Solutions (SAS), which aims to provide enhanced credit to farmers. This ensures they have sufficient working capital to purchase essential agricultural inputs like seeds, fertilizers, and diesel. The program, operational for the past 12 seasons, highlights the impact of structured trade finance solutions in supporting critical sectors.

Through these collaborative efforts, DP World Trade Finance and Nedbank CIB are advancing DP World’s mission to enhance trade flow and unlock new possibilities for businesses across Sub-Saharan Africa, addressing immediate financial challenges and setting the stage for long-term economic growth and stability in the region.

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