FMO proposes working capital loan to agricultural group

Dutch development financier FMO is proposing a $30 million working capital loan to Agri Commodities and Finance (ACF). ACF is the main trading company of ETG Group, a large and diversified agricultural commodity trader and supply chain manager with most of its footprint in Africa.

Since its establishment in 1967 in Kenya, ETG has emerged to become the largest independent agricultural commodity supply chain manager in Africa. The Group owns and manages a vertically integrated agricultural supply chain with operations spanning procurement, processing, warehousing, distribution and merchandising. Globally, ETG operates about 120 processing plants and around 460 warehouses.

The facility will allow ETG to have sufficient liquidity to continue its operations, maintain employment and continue its support to farmers across Africa. A considerable share of ACF’s sourcing is from least-developed countries.

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