London investment bank picks Kenyan for top African job
Tuesday January 19 2021
Summary
Mr Ngumi moves to AMC from renewable energy firm Dream EP Global Energy Kenya, where he had been serving as a consultant for over two years.
AMC focuses exclusively on the high growth private capital markets of Sub-Sahara Africa.
Mr Ngumi formerly worked at Stanbic Bank and Standard Bank – in investment banking, as well as trade and commodity finance.
Africa Merchant Capital, (AMC) a privately owned boutique merchant bank based in London has appointed Kenyan executive Richard Ngumi as its new transactor in charge of originating trade finance deals into and out of Africa.
[co-author: Shelby Lomax]
This month, a Florida appellate court held that a merchant cash advance (MCA) purchase and sale agreement was not a “disguised loan” and, therefore, was not subject to Florida’s criminal usury statute. MCA purchase and sale agreements, which offer merchants a fast and efficient way to obtain funding for their operations, are not loans. Rather, these agreements constitute the purchase of a merchant’s future receipts by the MCA company. However, some merchants have claimed that MCAs are “disguised loans” subject to their respective states’ usury law. While several states have well-developed case law differentiating loans from the purchase and sale of receivables, Florida suffers from a relative lack of authority on the issue. Fortunately, in