Veefin Solutions has announced a strategic partnership with NSIA Group to expand Supply Chain Finance (SCF) capabilities across five NSIA banking entities in West Africa. According to reports from Business Standard, the partnership will enable NSIA Group banks to launch Reverse Factoring and Factoring programmes, giving businesses and SMEs digital access to working capital. The solution will connect anchor corporates with their supplier and buyer networks on a single digital platform, automating processes from onboarding and invoice submission through approval and disbursement.
The platform will support early payments to suppliers through Reverse Factoring and unlock working capital against approved receivables through Factoring. As reported by Business Standard, Veefin will provide the platform licence and ongoing maintenance services. The solution is designed to address the significant SME financing gap in West Africa, where fragmented data, manual processes and traditional credit models can limit access to short-cycle working capital. The deployment runs on Veefin's SCF platform, part of the broader Veefin 4.0 architecture, which currently supports other major programmes including PSB Xchange in India and the Kafalah SME credit guarantee programme in Saudi Arabia.
The partnership will expand SCF capabilities across Côte d'Ivoire, Senegal, Benin, Togo and Guinea. According to Business Standard, by deploying Veefin's platform across five markets, NSIA Group can offer consistent digital SCF products while retaining market-specific flexibility. The agreement, disclosed on August 18, 2026 under Regulation 30 of the SEBI LODR Regulations, 2015, involves deploying Veefin's digital platform across NSIA's banking entities. Implementation is expected to go live progressively across the five banking entities, with Veefin and NSIA Group planning to work together to expand product offerings and counterparty coverage in each market as the rollout continues.
Raja Debnath, Managing Director and CEO of Veefin Solutions, noted that such multi-country deployments demonstrate how scalable, technology-led financing ecosystems are becoming reality. Massetou Traoré, Deputy Managing Director of NSIA Group, stated that the partnership reflects a commitment to fostering innovation and financial accessibility, highlighting the region's transition toward digital financial ecosystems that support SME growth and inclusion. The deployment covers five distinct national banking entities within a single group, indicating a standardised approach to regulatory and operational compliance across borders, aligning with Veefin's broader strategy of leveraging common architecture for diverse markets.
