CAPE TOWN, June 26 (Reuters) – 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.
(Reporting by Wendell Roelf; editing by James Jukwey)
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