Citi targets Africa for SCF growth with BII backing

Citi is to expand its supply chain finance offering in Africa with funding from British International Investment (BII), the UK’s development finance institution. 

The Master Guarantee risk-sharing agreement with BII will boost Citi’s supply chain finance volumes in Africa, with a focus on funding SME suppliers and underserved or excluded businesses.

Chris Cox, Global Head of Trade & Working Capital Solutions, Treasury and Trade Solutions, Citi, said the agreement would, “Enable us to expand our supply chain finance offering and increase credit to suppliers most in need, in particular the small and medium size enterprises that normally have limited access to financing.”

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