Finance

Integrated agricultural conglomerate ETG gets term loan to boost food security

Integrated agricultural conglomerate ETG gets term loan to boost food security
Wednesday, 22 February 2023 16:57

The financing is provided by Canadian development finance institution Findev, which participated in the Export Trading Group's syndicated financing about two years ago.

Export Trading Group (ETG), one of Africa's leading agricultural conglomerates, recently secured a $55 million term loan from Canadian development finance institution Findev Canada. The 5-year fully amortized loan was announced by the Canadian institution last Monday. It will help ETG  boost its input supply, agronomic support, training, smart farming techniques development, and local processing services.

For Paulo Martelli, Chief Investment Officer of FinDev Canada, the loan "provides an opportunity for future engagements and increases FinDev Canada’s impact across the African content." 

"We are extremely grateful to FinDev Canada for providing us with another facility to increase our efforts.  We have built a strong relationship with the institution and look forward to creating a positive impact with their support," commented Anish Jain, ETG's chief treasury officer.

Findev Canada previously supported ETG with partners and institutional investors. In March 2021, the Canadian development finance institution partnered with Dutch FMO and the Austrian development bank OeEB to provide a $115 million syndicated credit facility to Agri Commodities and Finance (ACF), a subsidiary of Export Trading Group. The financing was aimed at strengthening ACF's operations while supporting smallholder farmers on the continent.

Export Trading Group, an integrated agricultural supply chain operator in Africa, has a diversified portfolio in several sectors, including agricultural inputs, logistics, infrastructure, food processing, and supply chain optimization. The group is present in 48 countries on six continents.

Chamberline Moko

On the same topic
Ecobank’s 2025 results reflect the shift of a pan-African bank toward a more profitable, disciplined and long-term-oriented model. At 40, the challenge is...
Africa Re reports net profit of $199 million in 2025, up 50.62% year-on-year. Investment income reaches record $114 million while FX losses...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchise. Transaction may alter Servair Abidjan revenue...
Africa’s ultra-wealthy population expected to rise 15% by 2031 Continent’s share of global wealth declines amid faster growth...
Most Read
01

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
02

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
03

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
04

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
05

Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...

“Private Investors Are Not Philanthropists: Risk Must Be Shared” — Tarek Toko Chabi, BOAD
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.