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.