AfDB, AfreximBank sign strategic factoring project to support African SMEs

The African Development Bank, through its Trade Finance operations, and Afreximbank today signed a Grant Agreement to support the development of factoring (a form of debtor finance in which a business sells its accounts receivable (invoices) to a third party (called a factor) at a discount) on the continent. This is a big step towards both institutions’ unrelenting drive and commitment to continue enabling extra and intra-Africa Trade.

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Coronation Merchant Bank appoints Banjo Adegbohungbe as Executive Director/COO

The Board of Directors of leading African financial institution; Coronation Merchant Bank limited has announced the appointment of Banjo Adegbohungbe as an Executive Director and Chief Operating Officer of the Group. He will be responsible for the Operations; Information Technology; Digital Channels and Administrative Divisions of the bank and its subsidiaries.

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