C2FO Earns Recognition at B20 South Africa for Pioneering Inclusive Economic Growth Initiatives

C2FO Recognized at B20 South Africa for Driving Inclusive Growth Through Early Payments

C2FO, the world's foremost platform specializing in working capital solutions, has garnered significant recognition in the B20 policy recommendations presented to G20 leaders at the B20 Summit in South Africa. This acknowledgment highlights C2FO's role in promoting inclusive economic growth through its groundbreaking early payment platform, which addresses critical funding needs for small and medium-sized enterprises (SMEs).

The B20 policy paper specifically cites C2FO's strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group. This collaboration has been deemed an exemplary model for fostering economic development in emerging markets. According to the report, C2FO and the IFC have established a joint initiative aimed at enhancing financing solutions for local enterprises throughout Africa, effectively targeting SMEs that often struggle to access necessary capital.

One key aspect of their partnership is the creation of a specialized, web-based multinational working capital platform tailored for micro, small, and medium-sized enterprises (MSMEs). This platform represents IFC's inaugural supply chain financing facility on the African continent dedicated to smaller businesses, aiming to dispense vital liquidity without the need for traditional risk-based underwriting processes.

This collaborative effort aligns with the IFC's African Trade and Supply Chain Finance Program (ATRI), which addresses the significant $331 billion financing gap that African MSMEs face. The B20 paper emphasizes that the technology underpinning C2FO's platform serves as a crucial "Platform Integrator". Through innovative API collaborations, C2FO can seamlessly embed financial services within existing business operations, providing invaluable working capital to underserved enterprises.

Alexander "Sandy" Kemper, CEO of C2FO, emphasized the vital importance of access to working capital, noting, "Access to working capital should never be the barrier that holds back innovation or growth. We are honored to see our work recognized at the B20, and we remain committed to ensuring that every business—no matter how big or small—has the liquidity it needs to thrive."

The policy paper also presents compelling data from a study conducted by the McKinsey Global Institute that reveals early payment platforms, like C2FO, can potentially contribute up to a 3% increase in GDP and foster more than 5% job growth in a nation's economy. The scope and scale of C2FO's operations are notable, with the platform facilitating connections for over 2 million suppliers within its network and providing more than $400 billion in funding globally by ensuring timely payment of invoices.

The recommendations from B20 South Africa further underscore the necessity of public-private partnerships for scaling such platforms nationwide, advocating for policymakers and regulatory bodies to provide essential support. They propose that governments leverage these platforms to guarantee timely payments, which can enhance the working capital environment for businesses.

Gianluca Riccio, Chair of the OECD Finance Committee and lead author of the B20 paper, stated, "True progress comes from sparking self-sustaining economic opportunities that attract long-term capital, boost private sector participation, fuel innovation, and build robust local capacity. For example, boosting firms' working capital through early-payment platforms at national levels can accelerate both employment and enduring economic growth."

C2FO's recognition at the B20 Summit highlights the pivotal role of innovative financial technology in meeting the working capital needs of businesses worldwide, especially in emerging markets where traditional financing options remain limited.

For more information about C2FO and its mission to provide working capital solutions, visit C2FO.com.