Strategic Partnership Details
Veefin Solutions Limited, a global technology company specializing in transaction banking and digital lending infrastructure, has entered into a strategic partnership with NSIA Group to expand Supply Chain Finance (SCF) capabilities across five NSIA banking entities in West Africa. The partnership covers banking operations in Côte d'Ivoire, Senegal, Benin, Togo, and Guinea.
Platform Capabilities and Services
The partnership will deploy Veefin's SCF platform to enable NSIA Group banks to launch Reverse Factoring and Factoring programs. The platform will:
- Provide digital access to working capital for businesses and SMEs
- Connect anchor corporates with their supplier and buyer networks on a single digital platform
- Automate processes from onboarding and invoice submission through approval and disbursement
- Support early payments to suppliers through Reverse Factoring
- Unlock working capital against approved receivables through Factoring
Veefin will provide the platform license and ongoing maintenance services as part of the agreement.
Strategic Rationale
The partnership aims to address the significant SME financing gap in West Africa, where fragmented data, manual processes, and traditional credit models limit access to short-cycle working capital. The multi-country deployment will allow NSIA Group to offer consistent digital SCF products while retaining market-specific flexibility.
Management Commentary
Massetou Traoré, Deputy Managing Director, NSIA Group stated: "West Africa is undergoing a strong transition toward digital financial ecosystems that support SME growth and inclusion. Through our partnership with Veefin, we aim to strengthen our Supply Chain Finance capabilities and deliver more efficient working-capital solutions to businesses across the region. This initiative reflects our commitment to fostering innovation, financial accessibility and sustainable economic development."
Raja Debnath, Managing Director and CEO, Veefin Solutions Limited stated: "Supply Chain Finance is becoming essential infrastructure for SME inclusion in emerging markets, and West Africa is experiencing strong momentum in this transformation. Our partnership with NSIA Group reflects a shared vision to build scalable, technology-led financing ecosystems that improve access to liquidity for businesses. Multi-country deployments such as this demonstrate how that vision is becoming reality — one anchor programme at a time."
Technical Platform
The deployment runs on Veefin's SCF platform, which is part of the broader Veefin 4.0 architecture. The platform currently supports financing programs including PSB Xchange in India and the Kafalah SME credit guarantee programme in Saudi Arabia, serving financial institutions across Asia, Africa, and the Middle East.
Implementation Timeline
The implementation is expected to go live progressively across the five banking entities. Veefin and NSIA Group will work together to expand product offerings and counterparty coverage in each market.
Company Background
Veefin Solutions Limited (BSE: VEEFIN) is a global technology company focused on transaction banking and digital lending solutions for banks, financial institutions, and enterprises. Its Veefin 4.0 platform provides digital solutions across Supply Chain Finance, trade finance, cash management, loan management, loan origination, collections, and corporate banking. Veefin's solutions are in production at more than 50 financial institutions across Asia, Africa, and the Middle East.
NSIA HOLDING FINANCIERE oversees the financial activities of NSIA Group and coordinates its banking subsidiaries in Côte d'Ivoire, Benin, Senegal, Guinea, and Togo. Through its banking subsidiaries, NSIA Group offers financial solutions focused on economic development, financial inclusion, and business growth across Africa.