BlueSPACE Africa and Tesselate Group Form Strategic Partnership to Revolutionize Trade Finance in Africa
BlueSPACE Africa, a prominent PAN African Enterprise FinTech, and Tesselate Group, a distinguished consultancy with a decade of expertise in financial sector technology, proudly announce their strategic alliance focused on transforming trade finance across Africa.
Trade Finance Transformation
This collaboration signifies a pivotal moment in the evolution of trade finance in Africa. Leveraging BlueSPACE Africa’s expertise in constructing robust financial backbone systems and Tesselate Group’s proficiency in advising and implementing cutting-edge technology, the alliance is poised to provide innovative solutions that streamline trade finance operations.
The BlueTRADE Initiative – Enhancing Trade Finance with Seamless PAPSS & SWIFT Payment Integration.
A cornerstone of this partnership is the introduction of BlueTRADE, a revolutionary, integrated, cloud-based/on-premise trade finance platform designed exclusively for African banks. BlueTRADE addresses the challenges posed by legacy systems, manual processes, lack of standardization, and interoperability by offering:
● Unified platform covering end-to-end trade finance workflows
● Purpose-built supply chain financing module
● Working capital solutions like invoice factoring and discounting
● Flexible omni-channel experience via EXIMport digital channels
● Interoperability with regional initiatives like PAPSS
● Integration with local Ports & Harbor systems for data exchange
● Scalable cloud delivery model with managed services
Key among the features is the seamless integration with domestic and regional settlement networks, facilitating efficient trade finance settlements for financial institutions:
● This is designed to interoperate with the Pan African Payment &
Settlement System (PAPSS).
● Utilizing ISO 20022/SWIFT interfaces, payments can be seamlessly routed over PAPSS, facilitating affordable and timely cross-border settlements across African markets.
● By incorporating SWIFT payment integration and PAPSS connectivity, BlueTRADE ensures a secure and efficient ecosystem for trade finance, promoting transparency, and contributing significantly to the advancement of trade finance solutions in Africa.
Empowering African SMEs
BlueTRADE addresses the critical challenge faced by African SMEs in accessing trade financing solutions. By providing tailored supply chain financing facilities, including invoice discounting, factoring, and payables financing, BlueTRADE enables SMEs to manage cash flows effectively while fostering trade growth.
“Tesselate and BlueSPACE partnership is yet to bring about a new era of innovation in trade finance. Our combined strengths will not only streamline processes but also contribute significantly to the growth and efficiency of trade operations in the African continent,” said Nicolas Pochon Trade Finance and Supply Chain domain lead at tesselate Africa.
“We are excited about the synergies created through the partnership with Tesselate Group. This collaboration marks a significant step towards redefining trade finance in Africa, and as we embark on this journey together, we are committed to introducing transformative solutions that reflect the shared values of innovation, efficiency, and empowerment. Through the strategic alliance, BlueSPACE Africa and Tesselate Group are poised to shape the future of financial services, driving positive change and contributing to the economic prosperity of our continent.” Samuel Amanor CEO of BlueSPACE Africa
This strategic partnership between BlueSPACE Africa and Tesselate Group signifies a bold stride towards ushering in a new era of efficiency, transparency, and growth in trade finance across the African continent. The joint expertise of these entities promises to bring transformative changes, simplifying processes, enhancing security, and contributing to the evolution of trade finance solutions in Africa. The future of trade finance in Africa looks promising with this dynamic collaboration at its forefront.