Afreximbank inaugurates a due diligence data platform

The African Export-Import Bank (Afreximbank) inaugurated a pan-African customer due diligence platform known as "Mansa" to provide a reliable source of primary data needed for the due diligence of counterparties. Africa.
Dr. Benedict Oramah, president of Afreximbank, said in a statement issued yesterday in Abuja by the bank's media director, Obi Emekekwue.
Oramah said: "Mansa will serve as the primary repository and reliable source of due diligence, information regarding African corporate financial institutions, parastatals and related entities."
"L & # 39; The objective of the Mansa platform is to facilitate access to the information necessary to conduct Know Your Customer (KYC), A "This will reduce the compliance costs with respect to business transactions and financing of projects in Africa. "
According to Oramah, the platform is an extension of Afreximbank's expansion mission, He said the platform would enhance African trade by enabling the effective integration of customers while reducing the operational workload and cost of compliance by counterparts.
"This new digital service is win-win for all participants, contributors, subscribers, national and international partners defending good governance.
" Afreximbank took the initiative with the support of the African Development Bank , African central banks and other national and international strategic partners to inaugurate Mansa. It will enable African financial institutions and businesses to simultaneously meet the expectations of customers and business partners. "The ultimate goal of the platform is to increase trade with and in Africa."
"This will be done by reducing the risk of compliance and strengthening relations between international banks and countries around the world." promoting good governance, transparency and accountability.
The platform bears the name of Mansa Musa, the powerful ruler of the West African Malian empire in the 1300s.
Africa on the world map and l 39; opening of trade across Africa.
It is believed that he is the only person to control the flow of gold between Africa and the Mediterranean.