The African Development Bank Group has approved a $75 million financing package to support Export Trading Group (ETG), a Mauritius-based conglomerate with extensive operations across Africa. ETG’s works in sectors including agricultural inputs, logistics, processing, supply chain optimization, digital transformation, and energy. Their impact reaches the economies of 14 African nations, including Ghana, Nigeria, Kenya, and Zambia.
The financing package includes $65 million from the Bank’s own resources and an additional $10 million from the Agri-Food Catalytic Financing Mechanism (ACFM), funded by Canada’s Department of Foreign Affairs. This special fund aims to mobilise gender-inclusive agricultural small and medium-sized enterprises (SMEs) across Africa. ETG will allocate the funds to its Sustainable Linked Loan facility, which focuses on expanding core value chain assets and supporting sustainable growth. The Bank’s funding will help ETG enhance its processing and packaging facilities, improve warehouse infrastructure, and provide smallholder farmers with essential agricultural inputs like fertilisers. While initially targeting 14 countries, the support may extend to up to 28 African nations as needs evolve.
Aligned with sustainability goals, the Sustainable Linked Loan facility incorporates annual performance targets focused on decarbonization, zero deforestation, and gender empowerment. To promote accountability, ETG faces direct financial repercussions for failing to meet these targets.
ETG plans to engage 600,000 smallholder farmers by 2027, with a 25 percent target for women farmers. This includes training on sustainable farming and improved access to resources. The project is expected to boost exports from Bank regional member countries and enhance intra-regional trade, particularly within the Economic Community of West African States (ECOWAS), Southern African Development Community (SADC), and East African Community (EAC) regional economic blocs.
Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human, and Social Development, shared: “The African Development Bank Group is thrilled to expand our work with the Export Trading Group and support its commitment to strengthen women’s economic development in Africa.” She also emphasised the project’s contribution to food security and economic growth.
The financing aligns with the African Development Bank’s ‘High 5’ priorities, particularly “Feed Africa,” “Integrate Africa,” and “Improve the Quality of Life for the People of Africa,” as well as the Bank’s Ten-Year Strategy 2024–2033. This initiative is expected to transform Africa’s agricultural sector into a commercially viable industry, advancing food self-sufficiency across the continent.
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