Afreximbank signs US$500m facility with ATDC to boost African trade

A US$500 million credit facility from the African Export-Import Bank (Afreximbank) will enable Africa Trading and Distribution Company (ATDC) to expand the sourcing, movement and distribution of commodities and products across African and global markets, the bank said on Monday.

Afreximbank and ATDC signed the global credit facility agreement to finance eligible trade and distribution transactions, including the purchase and aggregation of African goods, logistics, transportation, warehousing and distribution costs.

The facility will provide ATDC with financing across different stages of the trade and distribution cycle, with repayments anchored on proceeds generated from the sale of goods financed under the facility.

“The US$500 million Global Credit Facility extended to ATDC underscores Afreximbank’s commitment to strengthening the trade, logistics and distribution architecture required to realise the full potential of the African Continental Free Trade Area (AfCFTA),” Kanayo Awani, Afreximbank’s executive vice president for Intra-African Trade and Export Development, said.

Awani said the facility would facilitate the distribution of “Made-in-Africa” goods across the continent, deepen regional value chains and expand market access for African producers.