On November 29, CARISCA met with supply chain practitioners from diverse sectors, including agriculture, health, and finance, during its Supply Chain Action Network (SCAN) meeting to discuss supply chain financing, the fintech (financial technology), and the traditional banking perspective.
Supply chain financing is the next frontier in managing the supply chain. It involves more than just finance plus supply chain management. Supply chain financing (SCF) is using the supply chain to fund the organization, and using the organization to fund the supply chain.
In emerging economies throughout Africa, adopting supply chain financing is an important tool that can provide benefits throughout fragile supply networks. Ultimately, SCF involves utilizing the supply chain to develop savings, generate profits and efficiently manage assets to fund the firm.
CARISCA’s Supply Chain Action Network engages supply chain stakeholders in Ghana and across Africa to discuss current topics, trends, opportunities and challenges for managing African supply chains. The goal is to create a strong network of policymaking, private sector and civil society organizations to strengthen supply chain research, education and facilitate knowledge transfer.
Following presentations and a lunch break at the Nov. 29 meeting, participants discussed supply chain financing in breakout groups and then convened for a panel discussion.
“In the last two years, financial technology has altered a lot of things and made a difference in our lives and the entire value chain in general, notably in agriculture, health and banking,” said panelist Maame Yaa Amoah. “This is the ideal time to discuss fintech.”
More than 200 people attended the SCAN meeting, including 100 in person in Accra, Ghana, and more than 120 online.
“It feels nice to share my knowledge and experiences,” said Kwesi Korboe, a guest speaker. “It is essential to learn from our mistakes rather than repeating them; participants should put what they learned at the event into practice and apply it to their workplaces.”