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. In October 2022, another loan in the amount of USD 25 million was provided.
|Project name||Agri Commodities & Finance (ACF) / Export Trading Group|
Agribusiness / Agriculture
|OeEB project volume||
USD 45 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.