FCI Annual Review 2020: Regional Updates | 2019 Figures Main Takeaway

Factoring volumes continued to grow in Africa in 2019. It increased from EUR 22 billion in 2018 to over EUR 24 billion in 2019 representing 10% growth. The growth rate reflects the sustained increase in factoring volumes on the African continent which stood at about EUR 18 billion in 2015. Countries that led this growth included Egypt, South Africa and Tunisia with 13.9%, 12.3% and 7% growth, respectively. The same five countries have dominated Africa’s factoring landscape as shown on page 27. Notably, however, several small-sized factoring companies are emerging particularly in Botswana, Senegal, Cameroon, Nigeria, Kenya and Zimbabwe. The African Export-Import Bank (“Afreximbank” or “the Bank”), together with partners such as FCI continue to play a significant role in supporting intervention mechanisms that are creating opportunities for SMEs to fully benefit from factoring. Kanayo Awani