BII and INOKS Capital announce Africa-focused trade access programme

The Africa-focused Trade Access Program (TAP), managed by INOKS Capital, was launched in April 2022 with initial capital of $25 million from British International Investment (BII), the UK’s development finance institution and impact investor.

The programme is part of a larger trade access platform undertaken by BII to directly fund SMEs and trade intermediates, such as agritech, fintech and alternative trade financiers whose technological and digital solutions will help BII reach much smaller borrowers who are active members of local supply chains. As such, this first-of-its-kind programme will help to increase urgently needed liquidity to SMEs and target trade intermediaries in Africa.

Ivan Agabekov, CFO of INOKS Capital, emphasised, “Our team is eager to proficiently deploy the innovative toolset that TAP provides in filling the gap of capital needed to enhance trade through private sector growth, and not least supporting gender equality and climate change mitigation. These are much pertinent powerful motivators given the current supply chains and food security outlooks.”

Admir Imami, head of trade and supply chain finance at British International Investment said, “Small traders are vital to any supply chain but are often excluded from accessing formal trade finance products such as letter of credit, bank guarantee, receivables finance or structured trade finance. This new Trade Access platform, which BII is launching with INOKS Capital as its first partner, is an innovative financing programme and solution that will enable SMEs and trade intermediaries in Africa to access much-needed working capital. The platform will also support women-owned and led SMEs while also backing climate positive trade, which will help boost productivity across local and vital value chains, increase food security and accelerate sustainable and inclusive economic growth.”