AFRICA’S DUE DELIGENCE DATA PLATFORM On the 20th of September 2021 the Uganda National Chamber of Commerce & Industry (UNCCI) signed an agreement with Afrexim Bank and this was meant to bring the vision of this organization closer. UNCCI focus on advocating for appropriate economic policies and interventions that encourage a favourable business and investment climate for all its members, and through this agreement with Afrexim bank whose mandate is to finance and promote intra- and extra-African trade; it will focus on having all our members under an Africa Due Diligence data platform called MANSA. MANSA is repository platform that will provide complementary collection of information on investment in Africa and a reliable source of Customer Due Diligence information, with respect to African corporates, financial institutions, parastatals and related entities. The goal of MANSA platform is to facilitate access to information necessary for conducting Know Your Customer (KYC), Anti – Money Laundering (AML) and Counter Terrorism evaluations thereby reducing compliance costs with respect to African trade and project finance transactions. Therefore, this means that through this agreement there will be access to Customer Due Diligence information on African counterparties and this will play a significant role in lowering the risk perception of African entities as well as reducing cost of compliance. Further, a reduction in the cost of compliance will potentially reduce the cost of trade finance in Africa and, therefore, increase access to funding as well as creating confidence among global banks and financial institutions, serving as an incentive for them to deepen relationships in the African trade finance space (and rejoin the African trade finance space for the few which have already exited) So we believe that this initiative will greatly enhance our members capacity to grow and run efficiently and also ensure an enabling environment for sustainability of the private sector led growth. For more information contact : [email protected] /+256-753503035 PreviousNext