- Collaboration Marks Growth of Liquidity Performance Leader’s Supply Chain Finance Solutions
Kyriba, a global leader in liquidity performance, today announces its collaboration with the Bank of Africa Group. Bank of Africa, one of the largest Pan-African banking groups, has completed the implementation of Kyriba’s Working Capital platform to deliver enhanced digitized supply chain finance capabilities across its extensive network serving 20 African countries.
The first phase of the project facilitates working capital management for The Group’s customers in Morocco with plans to expand to other markets. Bank of Africa has onboarded its first customer, with the aim to bring on several new customers in 2025.
This collaboration underscores Kyriba’s continued growth in the region and globally, as well as its unmatched receivables and payables finance solutions, dynamic discounting and supplier onboarding. Kyriba’s expertise and platform will enable Bank of Africa Group’s customers to enhance cash flow, strengthen supplier relationships, and maintain sustainable growth amid economic uncertainties.
“Bank of Africa Group’s adoption of Kyriba’s Working Capital solution demonstrates their commitment to innovation and underscores our ability to meet the complex needs of financial institutions in today’s complex and volatile global economy. As the industry evolves, banks that embrace digitization and automation will be best positioned to lead—modernizing operations, gaining real-time visibility, and delivering more value to clients. Together, we look forward to setting a new standard for innovation and efficiency in African supply chain finance,” said John Stevens, Kyriba’s Global Head of Capital Markets, Financial Institutions & Working Capital.
Kyriba has also seen incredible growth in the volume of working capital financing among both banks and corporates, growing nearly 5X since 2020 and more than doubling the number of invoices uploaded to the platform. This surge highlights the increasing focus on unlocking trapped liquidity and mitigating market volatility through working capital solutions, which can unlock cash flow by accelerating payables and accessing receivables.
With over 6,500 employees and a legacy spanning more than a century, Bank of Africa Group is a key financial enabler empowering businesses and enhancing economic opportunities in Africa.
“Kyriba stood out to us for its local expertise, customer-centric approach, comprehensive product offerings, and proven impact delivering working capital efficiency to customers across the continent and world. We are excited to work with Kyriba to unlock new levels of financial insights that can help us optimize working capital and achieve operational success,” said Adil Lahbichi, Executive Director – Global Transaction Banking, Bank of Africa Group.
The African supply chain market is poised for rapid growth, driven by increasing demand for working capital optimization. Bank of Africa Group’s implementation of Kyriba’s platform demonstrates the immense potential for digitized working capital solutions across the region.
