Overview
We understand that in business, Cash -and not profit – is King!
Many businesses in Africa rely on Bank facilities like Overdrafts, loans, documentary credits, or mobile and other loans to finance their Working Capital. Other than being complex and expensive, the application process for these facilities is long, and decision never predictable and are often security-based. Money lenders charge usurious interest rates.
Benefits to suppliers
- Improved Efficiency: Fast access to their receivables as soon as invoice is approved. Once an invoice is approved and uploaded onto the platform, suppliers receive payment on the same day as they are no longer subjected to lengthy credit evaluation by the financier.
- Cashflow Control: Suppliers are left in control of their cash flow, providing the platform for subsequent flexible forecasting and growth.
- Easy Access to Liquidity: Suppliers are no longer hampered by their own credit ratings. The finance facility is based on the strength of the buyer and pricing is negotiated between the buyer and the financier. ALL suppliers are therefore eligible for the facility.
- Flexibility: Suppliers elect when to draw down against their approved invoices based on their individual cash flow requirements.
- Elimination of Payment Risk: Our product structure is such that the Funder takes the risk of the buyer and has no recourse to the supplier in event of delay or non-payment of the invoice. this helps to cushion Small and Medium Enterprises against defaults by their customers.
How it works
Step 1:
Suppliers complete our expression of Interest, noting to upload necessary documentation.
Step 2:
Platform Admin reviews and confirms Suppliers customers are on the platform.
Step 3:
If the Supplier’s customers are not on platform, Mtaji makes best endeavor to onboard them
Step 4:
Supplier completes onboarding process in 3 easy steps i.e. Account Set-up, Personal KYC details of Admins, and Company KYC details (approximately 30 minutes)
Step 5:
Platform Admin activates Supplier
Step 6:
Supplier is ready to trade invoices uploaded by their customers