NEWS
Standard Chartered study : Suppliers are risking US $ 35 billion in exports
new study by Standard Chartered has
A revealed that multinational companies will cut suppliers for failing to curb carbon emissions , with 78 % of multinationals ( MNCs ) planning to remove suppliers that endanger their carbon transition plan by 2025 .
For South African suppliers who fail to transition alongside their MNC partners , this could mean a loss in export revenue of US $ 33.7 billion . However , the study also reveals a US $ 1.6 trillion market opportunity for suppliers who decarbonise in line with MNC net zero plans .
According to Carbon Dated , which looks at the risks and opportunities for suppliers in emerging and fast-growing markets as large corporates transition to net zero , 15 % of MNCs have already begun removing suppliers that might scupper their transition plans . In total , MNCs expect to exclude 35 % of their current suppliers as they move away from carbon .
Kweku Bedu-Addo , CEO , Standard Chartered South Africa and Southern Africa , said : “ There is growing acceptance that decarbonisation is vital for the future of the planet Earth to remain hospitable as we have known it for millennia . What is required is the collective will to act with urgency to manage the transition towards Net Zero in a co-ordinated approach .”
Carbon teams up with Visa to enable payments across Africa
Carbon , a pan-African FinTech company providing access to basic financial services for Africans , has announced a strategic fiveyear partnership with Visa , a provider of digital payments , to offer both digital and physical issuance of Visa cards to its customers .
in business and consumer expectations in finance . Whether it is changing the way people invest , manage money , receive loans or send real-time payments to friends and family , Visa is a natural partner for FinTechs including Carbon .” p
Carbon is launching Visa debit cards in the third quarter of 2021 , roughly a year after shifting from being a leading digital lending company to becoming a digital bank offering a range of financial services including , savings and payments . By leveraging Visa ’ s payment functionalities , Carbon will deploy an instant issuance process in three key markets including Nigeria , Ghana and Kenya .
“ Carbon is focused on delivering an unparalleled banking experience that is both safe and reliable across all touchpoints ,” said Chijioke Dozie , CEO and Co-Founder , Carbon . “ We want more customers to enjoy some of our popular products like Carbon Zero through their Carbon card , and key to achieving this is our partnership with a leading payments and fintech-friendly company like Visa .”
Kemi Okusanya , Vice President , Visa West Africa , said : “ The rapid pace of technology innovation has driven a powerful shift
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