BancABC�s Purchase Order Financing Empowers SMEs

POF is a tripartite arrangement in which a supplier takes their Government purchase order to the bank for financing on agreement that once the supply has been delivered, Government would then pay back the bank directly while the balance goes to the service provider.

In an interview with Monitor Business, Maruping said the aim of the facility, which was incepted about three years ago, is to take away the risk from the client by financing their purchase orders so that they deliver on the tenders.