AfDB issues $100m loan to Export Trading Group

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The African Development Bank (AfDB) has approved a $100 million seven-year corporate loan for African Export Trading Group (ETG). The borrower is an African agricultural supply chain group and the funds will finance part of its five-year agricultural investment programme.

ETG’s investments will include fertilizer projects in Kenya and Zambia; processing plants (rice, cashew, maize, sesame, cotton, biscuit) in Kenya, Tanzania, Zambia, Mozambique, Togo, Ethiopia, Benin, Zimbabwe, Nigeria and Uganda; multi-commodity warehouses in Burkina Faso, Malawi, Zambia, Zimbabwe, Niger, Benin, Nigeria, Zambia and Ethiopia; and Silos in Zimbabwe.

Africa faces a significant food security challenge and net food imports are projected to increase to more than $110 billion by 2025.