ETG secures US$394M sustainable loan to support agricultural projects in Africa

AFRICA – Export Trading Group (ETG), a major player in Africa’s agricultural sector, has secured a US$394 million syndicated loan aimed at supporting its ongoing agricultural initiatives across the continent. 

This financing arrangement, backed by the Dutch Entrepreneurial Development Bank (FMO) and the Trade and Development Bank for Eastern and Southern Africa (TDB), is designed to encourage companies to meet sustainability targets in their operations.

The loan will provide ETG with working capital to continue the development of its agricultural projects in various African countries. 

The company operates an integrated supply chain, handling everything from the supply and warehousing of agricultural products to their processing, transportation, and distribution.

These include key commodities such as wheat, rice, soybeans, coffee, sugar, and cashew nuts.

In a statement issued on November 21, ETG emphasized its goal of reaching one million smallholder farmers across Africa, helping to improve their farming techniques and the overall quality of their crops. 

This initiative is part of the company’s broader commitment to advancing sustainable agricultural practices throughout the region.

Fatou Bouaré, Director of Finance and Operations at FMO, commented on the significance of the loan, describing it as the largest of its kind in the African agricultural industry. 

She highlighted ETG’s role in providing vital resources such as market access and technical expertise to smallholder farmers, which contributes to the overall enhancement of agricultural yields.

ETG, founded in Kenya in 1967, has expanded its operations to more than 25 African countries, including Mozambique, Uganda, Tanzania, South Africa, and Zambia. 

The company’s efforts continue to shape the agricultural landscape of the continent, positioning it as a key partner in the growth and development of Africa’s farming sector.

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