Standard Bank in $300m package for ‘Avozilla‘ producer
Standard Bank, the International Finance Corporation and HSBC UK each contributed about $100m to the dual-currency credit facility
06 April 2023 - 11:50
UPDATED 06 April 2023 - 13:57
Standard Bank, Africa’s largest bank by assets, has helped provide a $300m dual-currency revolving credit facility for avocado producer Westfalia Fruit International.
The Westfalia group operates estates across Southern Africa as well as Chile, Colombia, Peru, Portugal, the US and India, giving it the largest avocado-growing footprint in the world. It also grows a giant SA avocado variant dubbed the “Avozilla” along with other fresh fruit ranging from citrus to grapes and pomegranates as well as processed products such as dried fruit, avocado oil and guacamole...
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