Supply Chain Factoring and Finance and Kyiara Technology Launch Working Capital Market in Africa • Techpoint Africa

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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.

“SMEs 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, ”said 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 “Kyiara is an offshoot of last year’s company webinar which brought together key players from the financial sector and captains of industries present.

“The 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, ”Bakare added.

Kyiara is a platform that allows suppliers to upload unpaid invoices and get financing offers from investors quickly after confirmation from buyers. “We don’t fund. We provide the technology platform to bring transparency and structure to all stakeholders in the business circle, ”said Val Obi, Director of Kyiara Technologies Limited.

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