Finnfund invests $15m in African agricultural supply chain business
Posted on: 11 May, 2020 at 5:03 PM
Finnfund is one of the investors in a syndicated loan to ETG Group (ETG).
ETG has developed into a global player with a diverse portfolio of expertise across multiple industries, encompassing agricultural inputs, logistics, merchandising and processing, and supply chain optimisation, with most of its footprint in Africa. ETG operates in 26 African countries and manages more than 400 warehouses and over 90 processing plants worldwide.
The facility will enable ETG to further stabilise and develop its business.
“We are excited to partner with Export Trading Group in Malawi, Mozambique and Tanzania in their agri-commodity trading and processing operations,” says Finnfund’s associate director Jari Matero. “It is important to support the agricultural commodity trade and the supply of key agri-inputs such as fertilisers to local farmers in this challenging situation. Over the past decades, Export Trading Group has played a pivotal role in developing these sectors.”
“This is a unique facility for African agriculture sector that will allow us to enhance collaboration with smallholder farmers to buy the staple food crops and increase farmers’ linkages to international markets. This facility will bring strength to our operations, especially in such challenging times of Covid-19,” says Anish Jain, chief treasury officer at ETG.
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