Tag: Export Trading Group

FMO proposes US$90m syndicate loan to Export Trading Group

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KENYA – FMO, a Dutch development bank is seeking to extend a syndicated facility of US$90m working capital loan to Agri Commodities and Finance (ACF), the main trading company of Export Trading Group (ETG). The facility having a tenor of 2.5 years, is aimed to allow ETG to have sufficient liquidity to continue its operations, maintain employment and continue its support to farmers across Africa. “ETG plays a key role in various agricultural value chains (cashew nuts, sesame seeds, pulses etc.). In Africa, it uses its own supply chain infrastructure…

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Export Trading Group secures US$400m from Afreximbank to drive agricultural productivity in Africa

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AFRICA – The African Export-Import Bank (Afreximbank) has approved a US$400M global credit facility agreement for the Export Trading Group (ETG), an integrated agricultural conglomerate in Africa. The agreement will allow ETG to continue to play its vital role in the agri-foods supply chain, effectively connecting African farmers to markets as well as expanding access to critical inputs to boost agricultural productivity in a continent with tremendous but unrealised potential. According to estimates by Afreximbank, in 2019 Africa spent more than US$90B on food imports despite having up to 60% of…

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ETG enters into a US$11m agreement with the government of Zambia to establish the cashew nut value chain

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ZAMBIA – The Export Trading Group (ETG) and the Zambian government have signed a US$11 million contract, focusing on cashew nut rejuvenation and re-establishment to ensure delivery of high quality and export grade nuts from Zambia. ETG is one of Africa’s largest Agro conglomerates with operations in over 40 countries. Globally recognized as one of the fastest growing integrated agricultural supply chain groups, its operations include procurement, warehousing, processing and/or manufacturing of finished goods, transporting and distributing of products and driving brand growth. Speaking in an exclusive interview with Zambian…

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Finnfund invests US$15m in African agri supply chain business ETG

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AFRICA – Finnfund, a development financer, has invested US$15 million in a syndicate loan to Export Trading Group (ETG) alongside other investors to enable it further develop its business.  Founded in Kenya in 1967, ETG has emerged as one of Africa’s largest Agricultural Conglomerates with footprints across sub-Saharan Africa, North America, Europe, the Middle East and South East Asian countries. Globally recognised as one of the fastest growing integrated agricultural supply chain groups, its operations include procurement, warehousing, processing and/or manufacturing of finished goods, transporting and distributing of products and driving brand…

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Egypt’s first commodity exchange platform to kick start operations in January 2021

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EGYPT – Egypt plans to start operating its first commodities exchange by January 2021 which will provide commodity markets with greater price stability by reducing risk and increasing the number of traders as well as trade volume, value, and efficiencies. On January 22, 2020 The Egyptian Prime Minister Dr. Mostafa Madbouly, issued Decree No. 182 authorizing The Egyptian Exchange (EGX), Ministry of Supply and Internal Trade (MOSIT’s) Internal Development Agency and the General Authority for Supply Commodities (GASC) to establish a joint stock company called “The Egyptian Commodity Exchange.” This…

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Agricultural commodity trader ETG to raise US$80m to boost operations in Africa

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KENYA – The Export Trading Group (ETG), a Kenya-based agricultural commodities trader, is raising US$80 million (Sh8 billion) to finance and boost its operations in Africa. ETG, which trades a wide range of commodities, including maize, pulses and fertiliser, seeks to utilise the funding to improve its grain exports as well as fertiliser imports, reports Business Daily. The International Finance Corporation (IFC), an international financial institution, has committed to inject US$40 million (Sh4 billion) in funding while the London-based Standard Chartered Plc is expected to finance the remaining capital. “The…

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