Afreximbank signs US$200 million Facility with Export Trading Group (ETG)

Categories: News

Afreximbank virtually signed a deal with ETG Group. The Bank is providing ETG Group with a US$200m Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA) Facility to enable the Company to orderly adjust to the impacts of high commodity prices, increased freight cost and supply chain bottlenecks for many key commodities by meeting the resultant increased funding requirements.

“ETG Group is one of the first Intra-Champs of Afreximbank. The role they play is more imperative today, more than ever, given what’s happening in the in the world, due to disruptions of supply chains and the hike in the commodity prices which was affected by the Ukraine crisis, this has followed the coming out of COVID”, stated Ms. Kanayo Awani, Managing Director, Intra-African Trade Initiatives, Afreximbank.