Finance

Kenyan Export Trading Group receives 15mln to strengthen operations in Africa

Wednesday, 13 May 2020 16:17
Kenyan Export Trading Group receives 15mln to strengthen operations in Africa

(Ecofin Agency) - Export Trading Group (ETG), an integrated chain for the management and processing of agricultural products present in 26 African countries, is to receive $15 million in financial support from a Finnish investor.
The resource will enable the agro-industrial group to strengthen its agricultural trading and processing operations mainly in Malawi, Mozambique, and Tanzania.
Finnfund, ETG's new shareholder, has not disclosed the shares it will acquire in return for its financial contribution. Three other development financial institutions are reported to have a stake in the Kenyan company, which covers the entire agricultural value chain from production to distribution.

Long before the Finnish investor, several African banks and international financial institutions mobilized funds to support the Export Trading Group's activities in sub-Saharan Africa, South-East Asia, the Middle East, and Europe; regions in which the group has expanded its footprint.

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