Media Hub

14
JAN

Business growth trend continues on the basis of new programs and additional features.

 

Tower Investment’s Supply Chain Finance partner GSCF is pleased to confirm that its business growth trend continues very strongly in 2012 and into 2013, based on new programs being activated and the successful introduction of innovative features into its platform.

Increasing number of programs.

Within the first eight months of 2012, five new programs have been successfully activated in GSCF’s platform, involving three different fronting banks and over 1200 buyers located in North America and Europe. At present, with buyers and suppliers under conflicting pressures to improve payment terms, reduce prices and improve cash flow efficiencies, GSCF-tailored solutions are ever more suitable, particularly given the technical knowhow required to properly manage these programs. Financial institutions are increasingly aware of this market trend and are aligning their strategies to respond to such demand with the technical assistance and expertise from GSCF.

New feature: “local currency repayment option”.

Nowadays more and more Distributors, especially those trading locally, are willing to settle their payables in local currency to minimize the impact of the exchange rate fluctuations whilst avoiding the administration related to hedging foreign currency exposure.

Foreseeing the growth of such demand on the Distribution Financing market, GSCF has developed an interface whereby banks can offer Distributors the flexibility of converting selected Supplier’s invoices into local currency based on either the spot or forward rate.

The “local currency repayment option” is an online feature accessible through the GSCF web portal and made available to Distributors and to the financing Bank of the respective Distribution Financing program.

For more info, please contact Tower Investments.

Other News

Courtesy of Financial Mail

Tue, 18 Sep 2018 14:47:39 +0200
Fin24.com | OVERVIEW: Absa, FNB testify they refused to meet govt ministers over Gupta account closures

On the second day of hearings into how, when and why banks closed their Gupta-related accounts, FNB and Absa both said they refused to meet Cabinet ministers who wanted to discuss client relationships.
Read More

Tue, 18 Sep 2018 20:56:28 +0200
Fin24.com | Beat poverty by investing in young people - Bill and Melinda Gates

Research from the Bill and Melinda Gates Foundation shows that part of reducing extreme poverty in Africa involves investment in the health and education of young people.
Read More

Tue, 18 Sep 2018 17:38:45 +0200
Fin24.com | Land plan has some upside, big risks, says IRR

The plan to expropriate land without compensation will benefit a small number of citizens if successfully implemented but will be disastrous for most people if it goes awry, the Institute of Race Relations warns.
Read More

Tue, 18 Sep 2018 16:17:40 +0200
Fin24.com | WATCH: China says Trump forces its hand, will retaliate against new US tariffs

As Wall Street gets humming, investors are still trying to figure out why financial markets have shrugged off the Trump administration’s latest salvo in the trade war with China.
Read More

Tue, 18 Sep 2018 16:30:48 +0200
Fin24.com | Mkhize wants more time for Eskom debt report

Minister of Cooperative Governance and Traditional Affairs Zweli Mkhize has written to National Assembly Speaker Baleka Mbete asking that his deadline for a report on how much municipalities owe Eskom be extended.
Read More

Tue, 18 Sep 2018 17:17:06 +0200
Fin24.com | Top 5 on Fin24: Glimpse into new draft expropriation law, Absa & FNB testify over Gupta account closures and Coca-Cola eyes cannabis market

A roundup of Tuesday's top economic and finance reads on Fin24.
Read More