Vodacom Business and haifin Unite to De-Risk South Africa’s Trade Finance Sector
Vodacom and haifin partnership de-risks trade finance, boosts SME liquidity, and enhances South Africa’s banking ecosystem.
In a first-of-its-kind agreement, Vodacom Business and UTC, trading as haifin, an e& enterprise company, from the UAE, have forged a strategic partnership that aims to de-risk trade finance in South Africa’s banking industry.
This strategic collaboration marks a significant stride towards digital transformation and increased banking ecosystem resilience.
The collaboration is expected to enhance the South African banking industry’s ability to manage risk and prevent fraud, particularly in the realm of trade finance. This de-risking solution will enhance lending appetite, thereby increasing revenues for the banks and also improve access to liquidity for SME businesses and corporate borrowers. The signing ceremony, held in Johannesburg, formalised the strategic alliance, with prominent banks from South Africa in attendance.
