Absa Secures $150 Million from UK’s BII to Boost African SME Trade Financing
Absa Group, a leading South African bank, secured a $150 million trade financing facility with British International Investment (BII) to support African small- and medium-sized enterprises (SMEs) in agriculture, healthcare, and other sectors.
This partnership aims to address Africa’s estimated $100-$120 billion trade financing gap, a challenge intensified by COVID-19, the Ukraine conflict, and regional supply chain disruptions. The funds will provide essential liquidity for SMEs across the continent, facilitating cross-border trade.
Photo courtesy of Mitchell Luo.
Source: daba (link opens in a new window)
- Categories
- Agriculture, Health Care, Investing
