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  • Binkabi Commodity Monday #7 | (View online) in your own language

How we are making it in Africa

Commodity Monday, 21 October

Standard Chartered and Huawei develop IoT-led smart financing solution

GTReview 

Standard Chartered and Huawei are developing an internet of things (IoT) solution to help the bank make better financing decisions. The application will enable Standard Chartered to track the movement of goods on a real-time basis, and can trigger automatic financing or payment instructions.

The aim is to reduce operational risks while providing reliable data that can be used in financing decisions. Instead of corporates having to manually initiate transactions through paper-based or emailed instructions, this data could be automatically fed to their banks. Standard Chartered and Huawei are taking the technology a step further by exploring how the bank can offer smart financing based directly on the information provided through the sensors.

According to Michael Gorriz, group CIO of Standard Chartered, the technology could “change the fundamental way we do banking”. Standard Chartered will also be well-placed to identify ‘early warnings’ of potential issues that could affect the ecosystem.

Anglo-Gulf Trade Bank aims to bridge trade finance gap with blockchain

channelnewsasia.com

Anglo-Gulf Trade Bank, a 51:49 joint venture between the Britain’s AGTB Holdings Ltd and Abu Dhabi’s Mubadala Investment Company, is aiming to shake up trade finance in the region by using blockchain to speed up transactions, becoming the latest financial services firm to adopt the technology. 

“The bank, which opened in the UAE capital Abu Dhabi with initial capital of US$100 million, will facilitate trade by companies between the Middle East, Britain and Asia. Trade finance is often a problematic area for small businesses and emerging market countries. The Asia Development Bank has estimated there is a global trade finance gap of around US$1.5 trillion.”

Commodity spotlight: African Coffee Production — Opportunities and Challenges

GroIntelligence

When one thinks of coffee-producing countries, Brazil and Colombia are sure to come to mind. However, Ethiopia and Uganda are also among the top-ten coffee producing nations. These countries are positioned to boost their production rapidly over the next five years, but only if they can capitalize on domestic demand, successfully market to international buyers, and work towards greater efficiency in their operations. And with top producers like Brazil and Vietnam holding such a large share of global output, any upsets to production in these countries could have great implications for global supplies and trade. Gro Intelligence reported..

Binkabi Startup Snapshop

howwemadeitinafrica.com

How We Made It In Africa recently conducted a short interview with Binkabi CEO Quan Le on his personal account of how he came to start Binkabi as well as the opportunities and challenges for entrepreneurs in the agricultural supply chain in Africa. Despite the magazine’s title, we have not quite made it — better, we are making it in Africa and that is the exciting part!

For slightly more in-depth overview of Binkabi, refer to an article by GTReview on World’s first blockchain commodity exchange to transform African agribusiness.