Avuna Group becomes affiliate member of FCI

Our Reporter

The global representative body for factoring and financing of open account domestic and international trade receivables, FCI, has officially announced Avuna Limited as its newest affiliate member.

The Head Investment, Analyst of Avuna Limited, Mr Brian Edwards, during a press briefing, said the development further proved the immense work and sacrifice the team had put in.

He said: “As this affiliation is coming on the back of the credibility gained by Avuna over a short period. I encourage commodity traders and other stakeholders in the industry to take advantage of this rare business opportunity provided by Avuna to leverage their platform and expand their export credit operations.”

This is a long-awaited affiliation looking at the volume the fast-growing trading company has recorded since inception in 2019. This puts The Avuna Group in the company of Wells Fargo Bank, Bank of China, Standard Chartered Bank UK, BNP Paribas Factor SA, African Export – Import Bank, Absa Bank South Africa, Ecobank Kenya etc.

Avuna Trade, which is the trade arm of The Avuna Group, is dedicated to improving cross-border business and driving growth in export.

With close to 400 member companies in more than 90 countries, FCI offers a unique network for cooperation in cross-border factoring. Member transactions represent nearly 60% of the world’s international correspondent factoring volume.

This giant leap by Avuna further affirms their unrivalled effort to provide the much-needed support for businesses involved in export, to see them thrive and scale exponentially. This major milestone also helps to cushion the credit challenges of partners associated with cross-border trade. FCI affiliation strengthens Avuna’s stake in terms of its vast experience of over 50 years and international capacity in this space to provide ease in facilitating global trade.

Armed with market intelligence, data and now a global affiliation, Avuna Trade provides a wide range of solutions which include finance/credit availability, logistics, and compliance providing necessary information, legal and documentation support.