Oceana, the South African fishing conglomerate, was hunting robust and trusted relationships with its key fish suppliers in a competitive market. Namibia’s Erongo Marine Enterprises, an Oceana Group company, trawling for mackerel out of Namibia’s commercial deep seaport Walvis Bay, wanted to offer their suppliers the benefits associated with access to liquidity and preferential financing in a challenging market buffeted by rising interest rates, weakening emerging market currencies and increasing commodity prices.

Corporates and banks have been trying to establish supply chain finance in Namibia for years, but previous attempts always hit the buffers. Mostly because the pricing wasn’t commercially feasible or because of compliance and regulation. In a breakthrough supply chain finance transaction and country first, Oceana, Erongo Marine Enterprises and their partners have successfully landed a developed market treasury staple for corporates in Namibia.