Absa has secured a $150 million facility from British International Investment (BII) plc, aiming to help close the trade finance gap in Africa.
BII, the UK’s Development Finance Institution (DFI) and impact investor, focuses on providing patient capital to foster productive, sustainable, and inclusive economies. Absa, as the borrower, will utilise the funds to support this goal, with a specific focus on the African continent.
Head of FI Trade Sales (International), Risk Distribution, and Syndication at Absa CIB, Mosa Tshabalala, said: “Our unyielding commitment to the success of the continent continues to drive us to find solutions to serve our customers by addressing Africa’s trade finance gap, focusing on sustainable funding.
“Our role as a Pan-African bank is to channel the funds to reach our client base across our chosen markets. We continue to forge partnerships with DFIs, insurance companies,…
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