Fiducia, Nigeria’s leading digital supply chain financing marketplace, has become a corporate partner of the Factors Chain International (FCI). FCI is the world’s representative body for the factoring and receivables finance industry with over 400 members in 90 countries.
Imohimi Aig-Imoukhuede, CEO, Fiducia, disclosed the onboarding of Fiducia into the global body in a statement, and described it as a major milestone for the company. “We are excited at becoming a member of this prestigious body as it confers an advantage on Fiducia to play a key role in opening up funding opportunities for MSMEs in Nigeria and Africa to grow and scale”.
Aig-Imoukhuede stated that as a member of FCI, Fiducia would be able to access up-to-date industry education, training, mentorship, knowledge sharing, business opportunities, industry data and market intelligence vital for Micro, Small and Medium Enterprises (MSMEs) growth in Nigeria and Africa at large.
“FCI is a huge network of professionals with diverse experience in factoring and receivables finance from across 90 countries. The huge leverage that membership of FCI offers includes opportunities to meet, learn, peer-review and do business with different industry stakeholders,” Aig-Imoukhuede stated.
He stated that sequel to the admission of the company into the body, Fiducia at the 55th annual meeting of IFC held recently in Marrakech, Morocco, Aig-Imoukhuede disclosed that the meeting provided leverage for Fiducia’s CEO to join other industry leaders from across the world to brainstorm and share knowledge on a wide range of topics.
“FCI has emerged over the years to become the foremost global platform for the Factoring and Receivables Finance Industry. FCI offers various solutions of cross-border receivables finance to its members by helping them to develop a framework for competitive advantage in international trade financing.
“Although factoring and reverse factoring model is still relatively new in Africa, the market is growing steadily. Our conviction is that Fiducia joining FCI is a step in the right direction that can further accelerate efforts at standardising and facilitating the growth of factoring in African countries,” Aig-Imoukhuede stated.
According to him, Fiducia is leveraging technology to drive an increase in the adoption of factoring for SMEs across Nigeria and Africa. He stated further that Fiducia will drive factoring and its variants which can be considered as an alternative financing option to SMEs who are the bedrock of economic growth and job creation in Africa.