Docutrade Facilitates Unprecedented Trade Finance Transaction With Electronic Bill Of Lading Conversion And Capital Provision

Yodaplus DocuTrade, in a collaborative endeavor with its ecosystem partner XDC Trade Network, has successfully executed a pioneering transaction by converting traditional paper Bills of Lading (BL) to electronic BL (eBL). This groundbreaking transaction demonstrates DocuTrade's prowess in digitizing trade documents, thereby also facilitating capital provisioning against the fractionalized eBL for a shipment duration of 7 days.

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In this pilot, the shipper tokenized the eBL and fractionalized it, enabling capital provisioning for the shipment duration. This innovative approach, powered by DocuTrade, provided TradeFlow Capital, the shipper, with liquidity as soon as the shipment sailed, giving them a cash flow of 7 days (transit time). The ease of transaction was significantly enhanced as the trade documents were digitally created, making verification and transfer a seamless process. The commodity shipped was COPPER MILBERRY SCRAP for green recycling, with the transaction value pegged at USD 150K.

Read More: https://ngulminthang.weebly.co....m/news/docutrade-fac

Afreximbank Grants UBA $150m Trade Finance Facility

United Bank for Africa Plc has got a $150m trade finance facility from the African Export-Import Bank, to cushion the effect of the Ukraine war on customers.

In a statement, UBA noted that the facility formed part of Afreximbank’s Ukraine Crisis Adjustment Trade Financing Programme for Africa.

It stated that the signing ceremony for the trade finance had been concluded by both institutions on the sidelines of the ongoing Intra-African Trade Fair, organized by Afreximbank in Cairo, Egypt on Saturday.

It stated, “The terms of the agreement state that the facility will be utilised to finance trade and trade-related transactions in support of UBA’s clients.

“In addition, the facility will aid in increased financing of trade businesses in various sectors of the Nigerian economy, thereby, mitigating the adverse effects of the Russia-Ukraine crisis. “

Read More: https://ngulminthanglhanghal.m....ystrikingly.com/blog

Trade Ledger to Launch Beta Program for AI-Enabled Working Capital Solution

Built on Trade Ledger’s data platform and deployed by Accenture, the beta program for Copilot provides banks with a generative artificial intelligence (AI) interface for embedded complex business finance, according to the release. The program is now open for banks interested in expanding their small and medium-sized business (SM lending portfolio.

During the beta program, only a select number of banks will have early access to Copilot, the release said. Other Trade Ledger customers will have to wait until 2025 when the solution becomes generally available.

The Trade Ledger data platform is already being used by banks like HSBC and Barclays in 15 countries, reducing the time it takes to process working capital finance applications, per the release. With Copilot, which is built on top of that platform, participating banks can offer their business customers a simplified way to understand and apply for working capital credit.

Working Capital Copilot empowers businesses to analyze their financial data and identify their capital needs, according to the press release. By integrating with the bank through an application programming interface (API) connection, Copilot matches the business’s requirements with suitable lending products offered by the bank. This addresses a significant obstacle faced by SMBs, who often lack the resources and expertise to determine their working capital needs.


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Blue Yonder to Expand Supply Chain Solutions With Doddle Acquisition

“The proliferation of eCommerce — and, therefore, returns — has placed increased pressure on carriers, muddied the waters of inventory management and created frustrations for shoppers,” Blue Yonder CEO Duncan Angove said in the release. “Doddle’s capabilities unlock a differentiated, superior customer experience and will help us to further our mission to transform the supply chain.”

With Doddle’s capabilities, Blue Yonder aims to provide retailers and logistics service providers with a simplified experience for their customers, as well as enhanced growth potential to strengthen their businesses and build more sustainable supply chains, according to the release.

Doddle’s self-service return kiosks and pick-up, drop-off (PUDO) networks offer efficient solutions to the challenges of returns management faced by retail and logistics businesses, the release said. By integrating Doddle’s offerings with Blue Yonder’s supply chain planning, orchestration and execution solutions, the companies aim to address the growing challenges in the first and last mile of eCommerce.

Read More: https://ngulminthanglhanghal.w....ordpress.com/2023/10

Absa CIB Joins Contour Trade Finance Network

Absa CIB is positioning itself at the forefront of digital developments by being a part of Contour’s digital trade finance network. Many of Africa’s trade transactions are manual and paper-based, which slows down trade growth and creates another layer of complexity and costs.

Absa CIB’s clients will now have access to Contour’s digital Letter of Credit (LC), which reduces the process of presenting documents from an average of 5-10 days to under 24 hours.

Digital developments are a big part of addressing challenges and creating access to new markets. In Africa, digitisation is critical to the success of the African Continental Free Trade Area (AfCFTA), a flagship project that aims to boost intraAfrica trade by 52.3 percent and expand the size of the continent’s economy to US$29 trillion by 2050.

Read more: https://ngulminthanglhanghal.w....ordpress.com/2023/08

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