In December 2020, OeEB provided USD 20 million as part of a USD 115 million syndicated loan facility arranged by FMO to Agri Commodities & Finance (ACF), one of the main trading companies of Export Trading Group (ETG). The funds will allow ACF to improve and expand its operations in Africa.
|Project name||Agri Commodities & Finance (ACF) / Export Trading Group|
Agribusiness / Agriculture
|OeEB project volume||
USD 20 million
|Project partner(s)||FMO, FinDev Canada|
ETG was established in 1967 as an independent African-based commodity trader. Since then, it has grown to become one of the world’s largest and fastest-growing integrated agricultural conglomerates with operating entities located in more than 50 countries. Its activities cover the entire farm-to-table value chain including procurement, warehousing, processing and/or manufacturing of finished food products, transportation, and distribution of fast-moving consumer goods.
The loan will allow ETG to strengthen and expand its operations across the agricultural value chain. These improvements will indirectly support ~600,000 smallholder farmers and create up to 5,000 new jobs in Sub-Saharan Africa while also contributing to more sustainable and climate-resilient agricultural practices and supporting access to critical food supplies across the continent.