Bank & Insurance
CDC Group further extends financing for Absa

CDC Group further extends financing for Absa

The British development agency is lending $50m to the commercial bank, which a year ago became one preferential intermediary to address the trade finance gap in Africa.

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            ▪ CDC Group further extends financing for Absa

▪ The British development agency is lending $50m to the commercial bank, which a year ago became one preferential intermediary to address the trade finance gap in Africa.

http://www.jeuneafriquebusinessplus.com/en/805377/cdc-group-further-extends-financing-for-absa/

08/09/2020 at 19h55, by Valentin Grille, updated 10/09/2020

The development institution has agreed a two-year revolving loan, primarily to deepen its support for value chains in key sectors such as agribusiness and health, which CDC claims have been hit hard by the Covid-19 pandemic and the resulting decline in trade flows.

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