News / Supply Chain Innovation
August 27, 2024
Africa Fintech Network
Abu Dhabi Commercial Bank – Egypt (ADCB Egypt) has partnered with financial technology company PaySupp to provide innovative financing solutions for corporate supply chain vendors.
The agreement, signed by Ihab El Sewerky, Managing Director and CEO of ADCB Egypt, and Ahmed Alaa, CEO of PaySupp, in the presence of senior executives from both parties, aims to help companies manage their working capital more effectively and ensure business continuity amid economic challenges.
The new platform’s early payment service provides flexible and integrated financial facilities, enabling suppliers to receive their deferred payments more quickly and on more favourable terms.
Companies benefit from improved payment terms, which help reduce operating costs, enhance operational efficiency, improve cash flow, and foster stronger collaboration with suppliers.
