Africa: Africa agric trader ETG gets $250 mln loan to expand
2012/06/27
Standard Bank has secured a $250 million syndicated loan for Export Trading Group (ETG), helping the leading African soft commodities company secure stock and expand across the continent, the bank said on Tuesday.
Founded as an agricultural marketing company in Kenya in 1967, ETG is involved in the production, processing, trading and distribution of agricultural commodities, such as cereals and oilseeds. It operates mainly in sub-Saharan Africa and Asia.
The loan will give ETG flexibility to gain market share and increase profitability by helping the company deliver stock at short notice and improving turnaround times, a senior company official said.
“It will ensure that ETG has the relevant stock available for distribution all year round, which is crucial for ETG’s competitiveness,” Ketan Patel, ETG’s managing director, said in the same statement.
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Africa Agriculture Profile
2012/07/14 The 53 African nations have been grouped into seven regions based on geographical and climatic homogeneity, which has a direct influence on irrigation. These regions and the nations they include are: Northern: Algeria, Egypt, Libyan Arab Jamahiriya, Morocco, Tunisia; Sudano-Sahelian: Burkina Faso, Cape Verde, Chad, Djibouti, Eritrea, Gambia, Mali, Mauritania, Niger, Senegal, Somalia, Sudan; Gulf of Guinea: Benin, Côte d’Ivoire, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Sierra Leone, Togo; Central: Angola, Cameroon, Central African Republic, Congo, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Sao Tome and Principe; Eastern: Burundi, Ethiopia, Kenya, Rwanda, Uganda, United Republic of Tanzania; Southern: Botswana, Lesotho, Malawi, Mozambique, Namibia, South Africa, Swaziland, Zambia, Zimbabwe; Indian Ocean Islands: Comoros, Madagascar, Mauritius, Seychelles.
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