Thursday, June 13, 2024
HomeRegionalAfDB approves soft commodity finance deal with Meridian for Mozambique, Malawi and...

AfDB approves soft commodity finance deal with Meridian for Mozambique, Malawi and Zimbabawe

African Development Bank – Building today, a better Africa tomorrow

The African Development Bank (AfDB) has agreed a US$20mn soft commodity finance facility with Meridian to fund its value chain operations in Malawi, Mozambique and Zimbabwe.

Meridian is a manufacturer and distributor of fertiliser, seeds and other farm inputs, and trader of agricultural commodities in Southern Africa.

The facility is designed to provide pre and post-shipment finance along various stages of Meridian’s soft commodity value chain operations in the three countries, aimed at helping local farmers and soft commodity suppliers to grow their revenues and produce quality crops for export.

Specifically, the funding will be used to purchase farm inputs, mainly fertiliser, to farmers to ensure consistency and quality of the commodities supplied to Meridian, purchase soft commodities from more than 10,000 farmers and provide working capital to Meridian to enable the company to engage in basic processing of the purchased soft commodities prior to export.

The facility will allow AfDB to “reach small-scale farmers indirectly through a regional aggregator, Meridian, that understands the market in which it has accumulated a 40-year track record; understands the operational risks and is able to mitigate and manage them”, the bank says in a statement.

Meridian was established in 1970 to assist small-scale farmers. The company currently employs over 4,200 people and distributes over 250,000 metric tonnes of goods a year, with its key African markets being Malawi, Mozambique, Zambia and Zimbabwe. Among its shareholders is African Agriculture Fund (AAF), in which AfDB owns a 20% stake.

Source: Global Trade Review

- Advertisment -

Most Popular

Recent Comments

James Hastings Chidule on Malawi’ fistula recovery at 86%
WELLINGTON WITMAN MOSELIJAH LUNDUKA on The history of Ngoni Maseko in Malawi
Lisa Frank on Home
azw3 on Home
Define Regtech on Home
Tobias Kunkumbira on Malawi to roll out Typhoid vaccine
arena plus nba standings 2022 to 2023 ph on Home
David on Home
마산출장 on Home
Cristina Thomas on Home
Alicia Alvarado on Home
The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?