CDC Group Commits $100 Million to ETG Group
CDC Group, the UK’s development finance institution and impact investor, has announced a $100m debt commitment to ETG, an agricultural conglomerate connecting smallholder farmers to global markets through its operations in 48 countries worldwide.
Tony Morgan, Managing Director & Head of Private Equity and Corporate Debt at CDC Group, said: “Agriculture and rural development are vital engines that are accelerating Africa’s economic transformation and meeting global food and health needs. As these sectors continue to evolve and grow exponentially, this shift will be bolstered by a diversified, technologically-enabled, and commercially-oriented agro-industry –one that connects Africa’s markets regionally and internationally.
The food and agriculture sector is a fundamental part of the development agenda, increasing the availability and accessibility of agricultural goods brings more nutritious food to the market, with the longer-term goal of improved food security and nutritional outcomes in countries where we invest.
Photo courtesy of S.Kilungu (CCAFS).