An entrepreneur selling a range of goods to Libya has found an innovative solution to overcome the difficulties of obtaining letters of credit (L/Cs) for trades involving the conflict weary North African country.

The L/C shortage is not the only challenge for Saleh el Busefi, who grew up in London but has been living and working in Libya on and off for the past decade.

L/C challenges

Doing business Libya presents several commercial challenges, including a lack of trade finance for small businesses.

To overcome the L/C shortage El Busefi's business, The Supply Company, joins L/Cs opened by other businesses that are not being fully used.

Genuine suppliers

The Supply Company is an online seller of automotive and industrial spare parts and accessories, such as tyres, lubricants and filters.

The company sources its supplies from around Europe, dealing directly with producers and refineries, not least to ensure no counterfeit goods end up on its site.

Fake products

"Libya is flooded with fake products," according to El Busefi.

He says counterfeit and cheap products imported from Ukraine, Russia and China permeate much of the Libyan market.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.