AHCX, NFB strengthen their WRF partnership
New Finance Bank (NFB) and AHL Commodities Exchange (AHCX) continue to strengthen their partnership on Warehouse Receipt Financing (WRF) through joint training programmes of their respective members of staff.
On Sunday, May 6, 2018, some NFB customer service staff based in Blantyre went through a training on WRF to ensure that farmers and traders who come to the bank to access financing under the arrangement are assisted professionally.
The training took place at NFB offices in Blantyre and was conducted by AHCX.
The first training took place in Lilongwe in April targeting Lilongwe-based NFB staffers. Under the partnership, farmers and traders can access short term loans from NFB using a warehouse receipt received after depositing their grain and legume commodities at AHCX as collateral.
In the picture above, AHCX Finance Manager, Robert Nazitwere, (right) makes a presentation during the training and in the picture below, NFB bankers being taken through the process for depositing commodities at AHCX’s Njewa Warehouse.