Kyriba, a global leader in liquidity performance, has announced the completion of its Working Capital platform implementation by Bank of Africa Group, a prominent Pan-African banking group.
This collaboration aims to enhance digitized supply chain finance capabilities across Bank of Africa’s extensive network, which serves 20 African countries. The initial phase of the project focuses on facilitating working capital management for the Group’s customers in Morocco, with plans for expansion into other markets. Bank of Africa has already onboarded its first customer and intends to integrate several new customers in 2025.
The deployment of Kyriba’s platform is designed to enable Bank of Africa Group’s customers to improve cash flow, strengthen supplier relationships, and maintain sustainable growth amidst economic uncertainties. Kyriba, which provides secure SaaS solutions trusted by 3,000 customers globally, noted a nearly fivefold increase in working capital financing volume since 2020, with a doubling of invoices uploaded to its platform. This trend indicates a growing focus on unlocking trapped liquidity and mitigating market volatility through working capital solutions.
John Stevens, Kyriba’s Global Head of Capital Markets, Financial Institutions & Working Capital, commented on the collaboration: “Bank of Africa Group’s adoption of Kyriba’s Working Capital solution demonstrates their commitment to innovation and underscores our ability to meet the complex needs of financial institutions in today’s complex and volatile global economy. As the industry evolves, banks that embrace digitization and automation will be best positioned to lead—modernizing operations, gaining real-time visibility, and delivering more value to clients. Together, we look forward to setting a new standard for innovation and efficiency in African supply chain finance.”
Bank of Africa Group, established in 1959 and rebranded in 2020, operates in 32 countries across Africa, Europe, Asia, and North America, serving 6.6 million customers through nearly 2,000 branches. It aims to act as a key economic bridge between Africa and the global market. Adil Lahbichi, Executive Director – Global Transaction Banking, Bank of Africa Group, stated: “Kyriba stood out to us for its local expertise, customer-centric approach, comprehensive product offerings, and proven impact delivering working capital efficiency to customers across the continent and world. We are excited to work with Kyriba to unlock new levels of financial insights that can help us optimize working capital and achieve operational success.”
The African supply chain market is experiencing rapid growth, driven by increased demand for working capital optimization. Bank of Africa Group’s implementation of Kyriba’s platform highlights the potential for digitized working capital solutions throughout the region.
