- Posted by: Administrator
- Category: Finance
When most people hear the words “trade finance” they immediately think of a complicated financial transaction involving hostile looking Bankers, piles of complicated forms and contracts, foreign shipping agreements and other intimidating images. What trade finance actually means is financing for trade, which involves both domestic and international trade transactions.
Mwananchi Credit Limited (MCL) however sees it differently in that it gives you money to enable you trade more and increase your revenue. Some of the measures we are putting in place to enable you focus on your business while we take care of the financing include;
A guarantee is a promise, made by the Mwananchi on your behalf, to pay an agreed sum of money to a third party after a specified period of time and on agreed conditions. So, if you are a petrol station or supermarket and you want to access petroleum products or bread to stock your outlet, Mwananchi Credit will make a promise to your supplier that we will pay them in a specified period of time and on agreed conditions. This works even for contractors or suppliers who may need to make a financial commitment in order to win tenders or jobs.
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Mwananchi also recognizes that a business needs cash to enable them drive their turnover in addition to guarantees. We structure our products to finance your business activity. For example, if you run a bar, restaurant, supermarket or hardware store, they will finance your stock. We will finance you to give you access to the stock you wish to sell and then when you sell the stock you clear the facility and do it all over again.
Another of the Mwananchi’s solution with its business customers is Import Duty Facility: As the name of the product suggests, MCL will pay your customs duty charges that enables you to clear your goods remove them from the port to our approved warehouses thereby avoiding heavy penalties from demurrage. Whether you are a small supermarket, a bar or restaurant, a contractor, a supplier or manufacturer what you need is cash to feed your business and boost your turnover, which is what MCL is offering.