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Distribution of payment terms most frequently used by African businesses in import and export trade transactions as of 2022

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Source

Release date

2022

Region

Africa

Survey time period

March to June 2022

Number of respondents

800 private sector players

Special properties

most frequently used terms of payment

Supplementary notes

The following question was phrased by the source: ''What forms of payment terms do you use for your import/export transactions?'

Citation formats

Share of payment terms used in international transactions by African companies 2022

Published by
Bruna Rocco,
Sep 8, 2022
In a survey conducted between March and June 2022, most CEOs in Africa indicated that they most often used cash in advance (** percent) and letters of credit ( percent) as payment terms in international trade transactions. In May 2019, the African Continental Free Trade Area (AfCFTA) agreement officially entered into force after ** African countries had ratified it. It aimed at facilitating trade within the continent.
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