CDC commits $75m trade finance facility to Absa

CDC Group, the UK’s development finance institution and impact investor, has announced a $75 million risk sharing facility with Africa-based Absa Group. The deal represents one of CDC’s largest trade finance commitments in Africa.

CDC’s $75 million funded and unfunded facility will help Absa increase its lines of credit to other banks across Africa. Subsequently, these banks can increase their trade finance offering to thousands of local business clients. 

This facility will also enable Absa to expand its network of local banks, particularly into the harder to reach African markets where trade finance will help fuel economic prosperity.