With Trader Assist, Standard Bank provides access to responsible working capital while Nestlé enables products to be delivered to the retailers, helping them to offer a wider range of products and attract more customers.
Since launching the solution, Standard Bank has been able to onboard more than 20 merchants per week per branch with minimal back-office staff. More than 70% of retailers who were onboarded were eligible for credit after the initial 30-day period, and over 80% of those retail merchants who used credit once went on to become repeat borrowers. This credit has funded between 60%- 80% of retailers’ trading volumes.
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