FCI, a global body representing factoring and receivables finance companies, has appointed Nassourou Aminou as its regional manager for Africa, as it works to expand the factoring market across the continent.
The FCI’s Africa chapter is chaired by Afreximbank, and Aminou will be based out of the multilateral financial institution’s head office in Cairo. In his new role, Aminou will support Afreximbank and FCI’s efforts in promoting and creating awareness about factoring as well as legal and regulatory advocacy work on the adoption of the Afreximbank Model Law on Factoring. This will include driving capacity building and bespoke training to support emerging factors, regulators, lawmakers, and other stakeholders.
Aminou brings over a decade of experience in factoring, credit insurance and IT support solutions for receivables finance to the role. He previously worked as a consultant specialising in the development and implementation of factoring software in African countries. Before that, he served as Coface’s regional head of factoring projects, where he launched the first factoring activity in West and Central Africa with 10 commercial banks.
Welcoming him to the post, Peter Mulroy, FCI secretary general, says: “As Africa is still in its infancy stage in terms of a developing factoring market, it requires the support of experienced professionals to promote factoring and its best practices. Nassourou will be close to factoring providers to assist them in launching the product.”
This is the latest expansion of FCI’s activities globally. In 2019, the non-profit association, which counts almost 400 members in 95 countries, appointed two regional chapter directors covering Central and Eastern Europe, Southeast Europe and the Middle East, and Northeast Asia. Subsequently, after amending its ruleset to cover sharia-compliant factoring, it also launched an Islamic factoring chapter within its network, in partnership with the International Islamic Trade Finance Corporation.