Potentially more than in any other amphitheatre, the selection of the right partner for business in Africa is crucial. With less liquid and more opaque markets than other regions, it is vital to ensure that any partner brings genuine expertise to the table and can transparently demonstrate the value of their offering. It is on the back of this principle that INTL FCStone Ltd (IFL) has built its business and relationships across the African continent.
Having been in operation since 1986, the Global Payments team has built an unrivalled network of local correspondent banks across the African continent, enabling it to engage in genuine local price discovery on behalf of its clients. With 130 banking relationships in Africa, IFL has multiple sources in each country, ensuring much greater transparency in its dealings, but also resulting in very extensive reach and the ability to service almost any African location with the minimum possible delay. Thanks to this network, IFL is not only extensively and heavily relied upon by a large section of the Aid and Development community, particularly by many branches of the UN family of organisations, but is also now a key supplier to an ever-growing number of the world’s largest banks, who use IFL to price and deliver payments for their customers in Africa, Asia and Latin America.
With access to local banking relationships in 53 of the 54 countries in Africa (Somalia being the odd one out) and 40 local currencies, IFL’s reach and service in Africa should interest any organisation hoping to do business on the continent.
In addition to its ability to price and deliver African currencies, IFL also houses extensive local market knowledge and expertise on African currency markets. IFL travels extensively and regularly across Africa, meeting with local banks and Central Banks in order to keep itself and its clients informed of local developments. These are then passed on in regular reports distributed to IFL’s client network.
IFL also has an active interest in commodities in Africa, not only transactionally, but also providing training seminars in commodity risk management across the continent. These seminars engage not only the local economy, but also regulators, governments and Central Banks. IFL is able to present opportunities to engage with local markets across Africa that is unique. We Open Markets.
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