Absa and AfDB seal risk-sharing deal to promote African trade
The $250m agreement could unlock as much as $2bn worth of trade finance in the next three years, with a focus on SMEs
19 November 2019 - 18:29
Continental development finance institution the African Development Bank (AfDB) and Absa have inked a risk-sharing agreement, intended to boost trade by African companies and small and medium-sized businesses (SMEs).
The $250m (R3.6bn) deal is intended to unlock as much as $2bn worth of trade finance in the coming three years and is aimed at increasing trade between African countries, Absa said in a statement on Tuesday. ..
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