The African Development Bank Group has greenlit a $75 million financing package to support Export Trading Group (ETG), a Mauritius-based conglomerate with extensive African operations. ETG’s portfolio encompasses agricultural inputs, logistics, processing, supply chain optimization, digital transformation, and energy, impacting economies across 14 African nations, including Ghana, Nigeria, Kenya, and Zambia.
The financing package includes a $65 million contribution from the Bank’s own resources, supplemented by $10 million from the Agri-Food Catalytic Financing Mechanism (ACFM), funded by Canada’s Department of Foreign Affairs. This facility, focused on mobilizing gender-inclusive agri-SMEs across Africa, will support ETG’s Sustainable Linked Loan facility, enhancing the company’s core value chain investments. These funds aim to expand ETG’s infrastructure—processing units, packaging facilities, and warehouses—and provide farmers with fertilizers and other essential inputs. Additionally, the Bank’s financing could extend to 28 countries based on ETG’s evolving needs.
Aligned with sustainability goals, the Sustainable Linked Loan facility incorporates annual performance targets centered on decarbonization, reforestation, zero deforestation, and gender empowerment, ensuring financial repercussions for non-compliance. “The African Development Bank Group is thrilled to expand our work with Export Trading Group and support its commitment to strengthen women’s economic development in Africa,” said Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human, and Social Development. She emphasized the project’s contribution to food security and economic growth.
By 2027, ETG plans to engage 600,000 smallholder farmers—25 percent of whom are women. The program includes training on sustainable farming practices and expanded access to agricultural resources, ultimately enhancing exports from Bank member countries and bolstering intra-African trade, particularly within the Economic Community of West African States (ECOWAS), Southern African Development Community (SADC), and East African Community (EAC).
Bank officials view this investment as a strategic partnership rather than a simple financial transaction. “By partnering with ETG, the African Development Bank champions strategic enterprises that span multiple African countries,” stated Richard Ofori-Mante, Director of Agricultural Finance and Rural Development at the Bank. He underscored that this collaboration supports agricultural development and enriches livelihoods across the continent.
ETG will lead the project with oversight from its Board of Directors, aligning with the Bank’s ‘High 5’ priorities, including “Feed Africa,” “Integrate Africa,” and “Improve the quality of life for the people of Africa.” As part of the Bank’s Ten-Year Strategy (2024-2033), this initiative is set to transform African agriculture into a viable, business-focused sector, fostering food self-sufficiency across the continent.
“Tying loan conditions to sustainability metrics promotes ETG’s alignment with the Sustainable Development Goals, encouraging better environmental and governance practices,” added Ofori-Mante. This approach aims to extend sustainable practices throughout ETG’s supply chain, amplifying the project’s broader impact on Africa’s agricultural landscape.
