Browsing: Funding for Agriculture

The African Export-Import Bank (Afreximbank) approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG).

Export Trading Group (ETG) is among the largest and fastest-growing integrated agricultural conglomerates in Africa.

The funds will address key challenges faced by African agricultural exporters, aggregating large values of produce in order to enable small and medium-scale enterprises(SMEs) access to regional and international markets.

The agreement will not only allow ETG  to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets but also expand access to key inputs to boost agricultural productivity in a continent with tremendous but yet unrealized potential.

Africa spent over $90 billion on food imports in 2019 despite possessing up to 60 per cent of the world’s remaining arable land according to Afreximbank.

According to the Food and Agriculture Organization (FAO), Africa’s agricultural production of up to 50 …