FMO provides funding to agri trading company

Dutch development financier FMO has signed a $70 million working capital loan to Agri Commodities and Finance (ACF), the main trading company of ETC 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, ETC Group 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.

The syndicated facility of $90 million 2.5-year working capital loan will allow ETC Group to have sufficient liquidity to continue its operations, maintain employment and continue its support to farmers across Africa.

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