This article is a Press brand Publish. Press brand is a paid service for brands that want to directly reach Techpoint Africa’s audience. The Techpoint Africa editorial team does not write Brand Press content. To promote your brand through Brand Press, please send an email [email protected]
With the aim of providing access to unlimited working capital to SMEs across Africa, Kyiara Technologies Limited launched on Thursday August 26, 2021 its trade receivables platform – KYIARA.
âSMEs represent 90% of employment and contribute around 60% of GDP. Intra-African is less than 5% in the global sphere. The implication of this is the fact that there is a need to develop trade and create the necessary financing for SMEs across Africa, and that is why Kyiara exists to solve these problems, âsaid the president of Kyiara Technologies Limited, Chris Oshiafi. addressing those present.
Kyiara was created to empower small and medium enterprises across Africa, as SMEs are the backbone of economic growth. The platform aims to strengthen the invoice factoring ecosystem in Africa and support intra-African trade.
Factoring and Supply Chain Finance Limited Chairman and CEO, PanAfrican Capital Holdings Group member Lanre Bakare, addressing the audience, noted that âKyiara is an offshoot of last year’s company webinar which brought together key players from the financial sector and captains of industries present.
âThe Kyiara platform allows prepayment to both suppliers and buyers; for suppliers, they get paid earlier to maintain cash flow while buyers get a discount on purchases, and this is what gave birth to the Kyiara platform, âBakare added.
Kyiara is a platform that allows suppliers to upload unpaid invoices and get financing offers from investors quickly after confirmation from buyers. âWe don’t fund. We provide the technology platform to bring transparency and structure to all stakeholders in the business circle, âsaid Val Obi, Director of Kyiara Technologies Limited.