Closing of the Regional Conference for the promotion of factoring and receivables financing in Central Africa
‘’The development of factoring in the sub-region will be technically and financially support by partners’’, Rigobert Roger Andely said.
13 May, 2022
After a two-day seminar, the Congolese Minister of Finance, Budget and Public Portfolio, Rigobert Roger Andely closed on Friday 13 May 2022 at the Kintele International Conference Centre (northern suburb of Brazzaville), the work of the Regional Conference for the promotion of factoring and financing of receivables in Central Africa.
During the two days, several round tables were held and many topics were discussed. These included: How factoring can help SMEs: difficulties and solutions; The experience of factoring in Central Africa: the case of the Postal Bank of Congo (BPC). The participants asked relevant questions and obtained convincing answers on factoring. This allowed them to adhere to this new product, without any doubt.
‘’The rich, frank and direct discussions brought to light some important aspects that should be highlighted here to mark the peculiarity of this alternative financing method. In particular: a clear distinction between factoring and other financing methods, highlighting its specific advantages; the notion of subrogation, specific to factoring; the thorny issue of guarantees required from banks, which, in the case of factoring, is no longer on the agenda,’’ Rigobert Roger Andely said. He added that ‘’there is no doubt that the organisation of such a conference in Central Africa will have an impact on the launch and development of factoring in our sub-region, especially since factoring activities will benefit from the technical and financial support of partners such as Afreximbank or the FCI’’.
The speaker seized this opportunity to invite the actors of the ‘’factoring chain’’ to appropriate this law, in order to create the necessary and useful ecosystem for the development of this mechanism in the Central African sub-region. ‘’At the end of the conference, it is necessary to start thinking about the identification, following the example of the Payment Incident Centre or the Banking Risk Centre, of economic operators who are known not to respect their commitments, in order to remove them from the ecosystem, so as to guarantee confidence in the factoring chain to be set up’’, suggested the Congolese Minister of Finance.
Rigobert Roger Andely expressed gratitude to the partners of this conference, such as afreximbank and Factors Chain International (FCI) for the very important means put in place to promote factoring and thus participate in the future development of intra and extra-African trade.
