Finnfund has funneled a syndicated loan to ETG Group which is now a global player with an extensive portfolio spanning several industries. The fund covers industries such as agricultural inputs, processing, merchandising, supply chain optimization, and processing.
With most of its operations spread out across the African continent – 26 countries to be exact – it also manages 90 processing plants and 400 warehouses globally. The facility will allow ETG to advance its business further.
Jari Matero, Finnfund’s Associate Director, expressed excitement over their recent partnership with an Export Trading Group in Mozambique, Malawi, and Tanzania. The firm deals with agri-commodity training and processing. In the past year, the supply of key agricultural inputs such as fertilizers has been a challenge. An opportunity ETG has played a “pivotal role” in agricultural development.
Anish Jain, the Chief Treasurer at ETG expressed pride in their partnership with “four marquee DFIs” when providing sustainable financing facilities. This unique facility will help the African agriculture sector in their collaboration with small-holder farmers while linking them to international markets.
On April 1 this year, Finnfund invested $1 million in Rwanda-based e-commerce platform Kasha. They are also involved in the 15MW Kaptis hydropower project as senior debt lenders.