Stanbic IBTC Bank has strengthened its support for small and medium-sized enterprises (MSMEs) by becoming the first bank in Nigeria to partner with CycleFlow, a supply chain finance platform powered by C2FO and supported by the International Finance Corporation (IFC).
The partnership is expected to improve access to affordable working capital for MSMEs by connecting the bank with participating corporate buyers and their suppliers through a digital financing platform.
Under the arrangement, Stanbic IBTC will provide short-term financing to suppliers by purchasing and discounting invoices that have already been approved for payment by corporate buyers. This enables businesses to convert outstanding invoices into immediate cash instead of waiting for lengthy payment cycles to be completed.
For many MSMEs, delayed payments and limited access to affordable financing remain major obstacles to growth. The new platform addresses this challenge by allowing suppliers to leverage the stronger credit profile of large corporate buyers rather than relying solely on their own creditworthiness when seeking financing.
The initiative comes at a time when businesses across Nigeria are contending with high borrowing costs, delayed access to capital, increased competition and prolonged payment timelines that often strain cash flow and business operations.
Beyond improving access to funding, the platform is expected to create a more level playing field for smaller suppliers by giving them the financial flexibility needed to compete and expand. Corporate buyers also stand to benefit through stronger supplier relationships, improved supply chain resilience and greater efficiency in payment processes.
Executive Director, Corporate and Transaction Banking at Stanbic IBTC Bank, Eric Fajemisin, said the partnership reflects the bank’s commitment to strengthening supply chains and supporting business growth.
According to him, access to faster payments will allow suppliers, particularly SMEs, to manage cash flow more effectively and reduce the pressure associated with long payment cycles.
“We recognise that robust supply chains are the backbone of a thriving economy. Our collaboration with IFC and C2FO is about empowering suppliers, particularly SMEs, by providing them with the flexibility to manage their cash flow effectively. This means they can choose to receive payments within days instead of waiting months, all without incurring additional debt,” he said.
Head of Transaction Banking at Stanbic IBTC Bank, Jesuseun Fatoyinbo, said the adoption of CycleFlow goes beyond providing financing solutions and is intended to create new opportunities for business growth and innovation.
She noted that facilitating early payments would help businesses become more resilient and agile while fostering stronger collaboration across supply chains.
“Our commitment to enhancing the business environment in Nigeria is unwavering. With the adoption of CycleFlow, we are not just providing a service; we are creating opportunities for growth and innovation,” she said.
Stanbic IBTC said the initiative aligns with Nigeria’s broader economic development objectives, including promoting local content and supporting growth in the manufacturing sector. The bank believes improved access to working capital will help local businesses increase productivity and strengthen their competitiveness within the African Continental Free Trade Area (AfCFTA).
As businesses continue to navigate economic challenges, the new supply chain finance platform is expected to provide much-needed liquidity for MSMEs, helping them improve cash flow, seize growth opportunities and build more sustainable operations.