CDC unveils further $100m trade finance deal with Absa

CDC Group, the UK’s impact investor for Africa and South Asia, has announced a $100 million trade finance loan with Absa Bank.

The investment will enable trade finance lending to Absa Group subsidiaries in Botswana, Ghana, Kenya, Mozambique, Tanzania, Uganda and Zambia, as well as other non-subsidiary correspondent banks across Africa.

This direct loan follows a recent agreement by CDC to provide a $75 million trade finance facility to Absa. The combined sum of $175 million is CDC’s largest trade finance commitment in Africa.