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In March 2023, OeEB concluded a bilateral credit line of USD 25 million with a term of three years with ETC Group, Mauritius. This is to be used to finance the business activities of the ETC Group's subsidiaries in Africa in the agricultural goods sector. In October 2022, OeEB signed a bilateral credit line of USD 25 million to Agri Commodities & Finance (ACF), one of the central trading companies of the Export Trading Group (ETG). Previously, OeEB extended USD 20 million under a USD 115 million credit line arranged by the Dutch FMO in December 2020. The funds will be used to expand the company's activities in Africa.
| Project name | Agri Commodities & Finance (ACF) / Export Trading Group |
| Region |
Sub-Saharan Africa |
| Sector |
Agribusiness / Agriculture |
| Service |
Investment Finance |
| OeEB project volume |
USD 70 million |
| Project partner(s) | FMO, FinDev Canada |
ETG was established in 1967 as an independent African-based commodity trader. Since then, it has grown to become one of the world’s largest and fastest-growing integrated agricultural conglomerates with operating entities located in more than 50 countries. Its activities cover the entire farm-to-table value chain including procurement, warehousing, processing and/or manufacturing of finished food products, transportation, and distribution of fast-moving consumer goods.
The loan will allow ETG to strengthen and expand its operations across the agricultural value chain. These improvements will indirectly support ~600,000 smallholder farmers and create up to 5,000 new jobs in Sub-Saharan Africa while also contributing to more sustainable and climate-resilient agricultural practices and supporting access to critical food supplies across the continent.