Efficiencies for suppliers. Reliability for buyers.
Ecobank is the bank of first choice of a number of large corporate organisations, who naturally engage in the purchase of goods and services from other companies. Ecobank makes facilities available to its suppliers, once the buying corporate has confirmed that the goods/services they ordered, meet agreed conditions and that payment has been scheduled. These only cover specific sales agreed with the corporate buyer. The corresponding repayment is made directly by the corporate buyer to Ecobank.
The net effect is that the performance risk of the supplier is mitigated by the fact that each individual supplier deemed important to the corporate is earmarked and consequently recommended to Ecobank, under agreed terms.
A major benefit to the supplier is the potential substitution of the supplier’s credit risk with that of the corporate buyer, and an opportunity for a lower financing rate. The supplier also enjoys more timely and efficient payments.
You as the buyer benefit from a reliable supply source, supported with supply chain financing from Ecobank and often with extended periods of days payables.