As part of the USAID-funded Financial Sector Program (FSP) in South Africa, Crimson experts will work with selected financial institution partners to introduce purchase order finance (POF) to the market. POF is a type of trade finance that provides short-term working capital to businesses based on a verified purchase order or contract. It is one of the single most effective financial instruments for rapidly increasing competitiveness, sales and employment.
During October, FSP issued a tender inviting financial institutions to submit expressions of interest to participate in the program. Winners will be selected and announced in November.