East African firms to get access to Afreximbank due diligence data
The Mansa digital platform will provide a single primary source of Know-Your-Customer data required to conduct customer due diligence checks on counterparties in Africa, focusing on African corporates, SMEs, and financial institutions. PHOTO | SHUTTERSTOCK
The East African Business Council (EABC) has signed a memorandum of understanding with the African Export-Import Bank (Afrieximbank) on rolling out the African customer due diligence platform, Mansa digital, in the region.
EABC chief executive John Bosco Kalisa told a virtual forum on Wednesday that the partnership will boost East African companies and small and medium enterprises (SMEs) to enable them to take advantage of African Continental Free Trade Area through accessing a centralised source of due diligence information.
The EABC is the regional apex body of the private sector in the East African Community member states of Kenya, Uganda, Tanzania, Burundi, Rwanda and South Sudan.
The Mansa digital platform will provide a single primary source of Know-Your-Customer data required to conduct customer due diligence checks on counterparties in Africa, focusing on African corporates, SMEs, and financial institutions.
The digital platform is expected to unlock the flow of capital, which will help expand the scale of business in Africa through accessibility to trade finance.
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