In an era where cash flow management is a cornerstone of business success, Bank of Africa (BOA) is making waves with its innovative Supply Chain Finance (SCF) offering. Designed in collaboration with Maroc Factoring, this digital and collaborative solution is tailored to meet the needs of both buyers and their suppliers. The 100% online platform, aptly named SCF by BOA, promises to streamline processes while fostering stronger business relationships.
BOA’s Supply Chain Finance targets large enterprises aiming to optimize their supplier payment processes while easing access to financing for their partners. With the SCF platform, buyers can delegate payment and due-date management to the bank, reducing administrative costs and strengthening ties with suppliers. For suppliers, it provides a competitive financing option, granting them access to working capital before invoice due dates.
This synergy is powered by seamless collaboration between buyers, suppliers, BOA, and Maroc Factoring. The platform ensures secure, real-time access for all stakeholders. Buyers upload validated invoices directly through an interface integrated with their information systems. Suppliers are notified instantly and can choose between waiting for the payment deadline or requesting early payment. Real-time tracking guarantees full transparency and traceability of transactions.
BOA’s SCF solution embodies its commitment to digital transformation and innovation. Currently, it supports confirming and reverse factoring, with plans to expand into advanced features like receivable financing and dynamic discounting. This progressive approach underscores BOA’s dedication to modernizing financial practices and empowering businesses to optimize their value chains.
Open to all businesses
One of SCF by BOA’s standout features is its accessibility. The platform is open to both BOA clients and non-clients alike. For small and medium enterprises (SMEs) seeking early payment, the only requirement is to open an account with the bank. This inclusive strategy highlights BOA’s mission to democratize financial tools and support Moroccan businesses in a rapidly evolving economic landscape.
BOA’s Supply Chain Finance represents a significant leap forward for Morocco’s financial sector. By fostering stronger collaboration among value chain stakeholders and delivering market-tailored solutions, BOA is helping its clients enhance their competitiveness and achieve sustainable growth. This initiative aligns seamlessly with BOA’s broader vision to place digitalization and innovation at the heart of economic development.
