Africa-Press – Botswana. Swiftly Finance has been hailed as a key solution to enhancing supply chain across the country.
This digital automated platform is meant to streamline supply chain financing into a smooth process, with speed, flexibility and financial freedom. Speaking at the launch of the system in Gaborone recently, former Debswana Pension Fund chief executive officer, Ms Gosego January said the platform came at a time when the country was in dire need of innovative solutions for an enhanced supply chain stability.
The launch themed: Empowering Supply Chains with Speed, Flexibility and Financial Freedom, shared insights and explored how Swiftly Finance could transform ways businesses were being funded in Botswana. However, Ms January said Swiftly Finance was a true indication that given the many bright and skilled young people, with innovative solutions, the country could become financial service hub for Africa, and help Botswana diversify away from the diamonds.
“There is no reason why Botswana cannot lead in the financial sector and ensure that it grows and becomes the bread and butter of our country. This for me, I believe is a stepping stone towards us diversifying the economy of this country,” she said.
Solution like Swiftly Finance, Ms January said, were critical for the growth of SMEs.
“The type of financing solutions you are offering will graduate SMMEs to better businesses. We cannot grow an economy where continually we all become SMEs. We need to start seeing companies flourishing year in and year out,” she added.
Ms January encouraged both private sector and government to register with the system to be part of the innovation.
“If we all rally behind this supply chain financing innovation system, we can actually extend it beyond the borders of Botswana,” she said.
Ms January said the system may help businesses assess their needs or help identify financial partners.
“We need to shift from identifying problems and start looking for the solutions. I believe the solutions lie in the financial sector, innovation, partnering between government and the private sector and the growing of the SMEs,” she added.
Ms January lauded Khana Capital managing director, Mr Theo Modise and his partner, EasyXchange Laboratories chief executive officer, Mr Kush Fanikiso for the innovative automated early payment programme. She encouraged Khan Capital to ensure their solution transcended Botswana borders. She urged the private sector, mining companies, government departments and parastatals to utilise the system to manage their huge procurement bills.
For his part, Mr Modise explained that the Swiftly Finance was an innovative solution built to address the working capital constraints faced by SMEs. The joint venture between EasyXchange Laboratories and Khana Capital, he said aimed to unlock liquidity in supply chains and enable both corporate and small businesses to thrive.
“This platform enables companies to maintain payment flexibility, while giving suppliers faster access to funds, which is a win for business continuity and economic growth. Traditionally, Purchase Order Financing has dominated the space, but it comes with challenges such as high interest rates due to performance risk, unsecured lending structures, distortion of SMME turnover through cession arrangements, which reduce transparency and hinder growth,” he said.
The platform introduces a flexible, data-driven and transparent approach to financing. Mr Modise said it was designed to align with the real needs of local businesses.
“While Khana Capital is proud to lead as a financier, we strongly believe in collaborative financing. We welcome other lenders to participate and extend capital through the platform,” he said.
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