PrimeRevenue has chosen South African financial services provider Propell as its business partner in Africa.
Propell has adopted PrimeRevenue’s technology to implement and manage supply chain finance programmes for African companies, enabling clients to improve their cash flow, lower procurement costs, earn better yields on surplus cash and assist suppliers. Essentially, the company offers working capital solutions to companies and their suppliers, bringing benefits to both parties.
Together with PrimeRevenue, Propell provides a comprehensive supply chain finance service, with funding from multiple local and international banks, supply chain spend analysis, benchmarking, benefit quantification, programme design, implementation and programme management, training of procurement, on-boarding and training suppliers to ongoing monitoring and support.
“Considering the rising demand for trade finance solutions, there is a strong opportunity for Propell to step in as the supply chain finance provider in Africa. They bring a wealth of local experience with finance expertise and we are looking forward to providing companies in the region with best-in-class working capital optimisation tools,” says PJ Bain, CEO of PrimeRevenue.
“Propell is proud to bring PrimeRevenue’s global reach and market leading technology to Africa. This partnership finally brings the proven working capital benefits of multi-bank supply chain finance within reach of Africa’s corporate sector,” adds Willem le Roux, Propell’s CEO.